TLDR; three reasons to buy AVAX
1. Strong competitor to ETH
2. Strong Technicals
3. Overtook Dogecoin on Coinmarketcap
Avalanche has appreciated 33% last week to solidify its position as one of the strongest Ethereum competitors. In fact, it has usurped Dogecoin for the number 10 spot on coinmarketcap. Despite retracing much of its move to new highs just under $150, the technicals are remarkably strong. We are hugging support from the upper bound of our Fibonacci anchors, corresponding to the previous high from last week. The Kovach OBV is still very strong, despite the correction from the first Fibonacci extension level. Despite how drastic this pullback appears, it is completely reasonable from a technical perspective. If support does not hold at current levels, see the Fibonacci levels below for ideas to buy back.
1. Strong competitor to ETH
2. Strong Technicals
3. Overtook Dogecoin on Coinmarketcap
Avalanche has appreciated 33% last week to solidify its position as one of the strongest Ethereum competitors. In fact, it has usurped Dogecoin for the number 10 spot on coinmarketcap. Despite retracing much of its move to new highs just under $150, the technicals are remarkably strong. We are hugging support from the upper bound of our Fibonacci anchors, corresponding to the previous high from last week. The Kovach OBV is still very strong, despite the correction from the first Fibonacci extension level. Despite how drastic this pullback appears, it is completely reasonable from a technical perspective. If support does not hold at current levels, see the Fibonacci levels below for ideas to buy back.
Comment:
Perfect timing! Nice rally to $127 just after I posted this!
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