Chart shows common supports and resistances based on price action and the fibonacci. The total evaluation for AVAX is neutral. For each leg up of AVAX needs a very convincing retracement in order to establish solid supports which can depict a very strong buyer interest in this coin. This massive wick to the upside can later on result to a massive self-off in the future without prior supports. It would be best to leave this coin for a while as it is already way too high up (or soft buy) and let it confirm itself for the next retracements on the recent tested supports so that you can be more confident in investing in it for the long term instead of pure guessing.
The 200 MA is showing a descending price value since the lack of reasonable supports will often result to a dump. Hopefully, AVAX retraces and buyer interest establishes a consolidation range above the red zone.
The 200 MA is showing a descending price value since the lack of reasonable supports will often result to a dump. Hopefully, AVAX retraces and buyer interest establishes a consolidation range above the red zone.
Trade active:
Due to the positive news of FED today, the move to the upside is more likely now and we reached the SOFT BUY ORDER at 77$ on point, happy longs everyone!