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Eightcap

AVAX: Thoughts and Analysis, potential low discussion.

Long
Avalanche (EIGHTCAP:AVAXUSD)  
Eightcap Broker  
EIGHTCAP:AVAXUSD   Avalanche
Trend Analysis Chart Patterns Technical Indicators fibbonachi retracement avalanche avax AVAXUSD cryptomarket cryptotrading techincalanalysis priceaction
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trendanalysis chartpattern indicator fibbonachi retracement avalanche avax avaxusd cryptomarket cryptotrading techincalanalysis priceaction

Today's focus: AVAX

Pattern – 50% Fibbo, HL low analysis.
Support – 29.22
Resistance – 33

Hi, and thanks for checking out today's update.

Today, we are taking a look at AVAX (Avalanche) on the daily chart. Looking at price with a Fibonacci retracement tool on the chart, we can see that price lines up at the 50% point. This point also lines up with a previous high. We discuss the significance of the 50% Fib point and when price lines up with previous highs in today's update.

We have also run over what we are looking for to start calling a confirmed low and continuation. Signs are building, but buyers still have some work to do.

Good trading.
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