The total evaluation for the AVAX asset is "bearish". Please be reminded that everything in the chart as listed, labeled and written are only using common theories of tested price action over a long period of time which are, namely, supports and resistances. The price action as well depicted by the black arrow is to help guide a natural flow of price action with respect to squeezes and triggering sell and buy orders which may affect the value of the asset negatively or positively.
The recommended strategy for the coin is to "SHORT". The asset has a very strong bearish divergence forming an obvious downtrend in both the price action and Relative Strength Index, eventually there is a higher chance to end up on the 10-20$ region, but please be weary of your risk management during a bear market as coins have the potential to drop 99% of their original value due to sentiment, panic selling.
Before you invest, try answering the questions below:
Is the price action sitting on a reasonable support? Is the price action bumping on a strong resistance?
Is the Ukraine-Russian War getting any good news towards resolution?
Is the inflation happening "especially" in the Global US Economy decreasing? How are the FEDs reacting to this?
Is the pandemic seeing its end? Is it going to be an epidemic now?
Is the housing market crisis happening nowadays is on its way to a recovery SIMILAR to the after-days of the crash of 2008?
If you noticed that most of your answers to the questions above are mostly no, then you have no solid basis for a good long or in other words, investing. Goodluck!
The recommended strategy for the coin is to "SHORT". The asset has a very strong bearish divergence forming an obvious downtrend in both the price action and Relative Strength Index, eventually there is a higher chance to end up on the 10-20$ region, but please be weary of your risk management during a bear market as coins have the potential to drop 99% of their original value due to sentiment, panic selling.
Before you invest, try answering the questions below:
Is the price action sitting on a reasonable support? Is the price action bumping on a strong resistance?
Is the Ukraine-Russian War getting any good news towards resolution?
Is the inflation happening "especially" in the Global US Economy decreasing? How are the FEDs reacting to this?
Is the pandemic seeing its end? Is it going to be an epidemic now?
Is the housing market crisis happening nowadays is on its way to a recovery SIMILAR to the after-days of the crash of 2008?
If you noticed that most of your answers to the questions above are mostly no, then you have no solid basis for a good long or in other words, investing. Goodluck!