Scenario casting #Avalanche versus #Ethereum
as we go forward into 2024
The blast off from the lows has to be respected and is a significant show of strength
and shames other blockchains price performance these past few weeks
I'm looking at you #Algorand & #HBAR
AVAX entered a good accumulation zone that i was observing for a while. I am buying and accumulating in this range waiting for a decent pump in the next weeks. This is an important support zone and invalidation will be a clean break below 33.0
February has been very positive for the AVAX price so far. In the next step, the altcoin should establish the high of the magenta wave near the resistance at $56.43. Thus, the latest bearish pressure should be conquered soon in favor of new upward momentum. As part of our primary scenario, the upcoming wave high should initially be followed by a sell-off until...
A chart of the AVAX/USDT currency pair on a 4-hour timeframe. The chart displays a Bullish channel pattern.
Bullish Channel : The Price has been Trading within a Bullish Channel for Some time, characterized by a resistance line at the top and a support line at the bottom.
The price is currently trading at Bottom of channel pattern, if Breaks the Downside then...
An observation on the chart that may pique interest: You could consider shorting this market.
If so, await a breach below $38.38 and target $33.65, setting a stop at $39.14 if it continues to resist without surpassing.
In that case, consider the last high made by the mini Wave E.
I suspect AVAX will form a double-top before more pullback. Cup and handle pattern is now in play and takes us just shy of our $48 price. I plan to some (maybe half) of around 42. I will then move my SL to break even and let the rest ride, trailing stops as we go.
I think exercising patience is crucial with this pattern. I've opted to temporarily withdraw my short position because it seems like a weak 5-Wave movement is unfolding, necessitating additional time to mature. I prioritize safety over risking a rebound upward since it doesn't conform to a straightforward 5-Wave pattern, thereby lacking proper resistance or stop levels.
This brief video about one of my current trades is predicated on the notion that we're currently in a Wave (B) within a Wave D, anticipating a substantial Wave E correction to the downside. My stop level stands at 39.50 currently, with an expectation of a descent to at least 37.67. However, I'm inclined to think it could potentially decline even further, as...
Hello everyone!
#AVAX has established itself above the 0.5 Fibonacci level amid market growth. I anticipate further movement in the near future towards $65.
All targets are on the chart.
This is not financial advice, everything you do is at your own risk!
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#AVAXUSDT (4H CHART) Technical Analysis Update
AVAXUSDT is forming ascending triangle pattern and it's waiting to breakout the ascending triangle.
If the price momentum continues in the similar manner, we can expect the breakout in next 2-3 days.
We have a strong resistance at 37$ level.
Long Entry level: $ 37.88
Stop loss: below $ 34.75
Target 1: $...
From where we entered START, we have entered a correction.
It seems that our correction is a diametric, of course it may be a triangle.
We expect a downward rejection to complete wave E.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have...
- Fast Update.
- Everything in Graphic.
- Buy Breakout 50$++. ( always wait Weekly candle on Monday to have confirmation ).
or
- Buy Retracement : 18$ ish ( 25% invest ).
- Buy Bottom : 10$ ish ( 75% invest ).
- TP1 : 150$ ish( old ATH )
- TP2 : before 380 to 500$ ish ( Just don't be greedy ).
Play S4fe
Happy Tr4Ding !
What is Avalanche?
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.
Avalanche launched on mainnet, September 21, 2020. Since then, the platform has...
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CRYPTOCAP:AVAX update 🧵
Nice bounce out of identified AOI.
Want to see a nice completed impulse up here with a break and flip of this level.
37.51
Break back...
📊Analysis by AhmadArz:
🔍Entry: 30.71
🛑Stop Loss: 30
🎯Take Profit: 31.32 _ 32.14 _ 33.26 _ 34.34
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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...
