AVAX / USDT
BTC is moving sideway around 30k while most of alts lost about 70%-80% from their top
The Bears still have full control on altcoins market
Looking at weekly chart ..If the selling pressure continue and lost current support .. AVAX can easily test the previous accumulation range between 6$-2$ .. because there no much supports in between
Inverse H & S formed on 4-H
can be a good mid term movement seen here
First Resistance point is EMA 100 at 16.2$ followed by 17.5 and 19.5$ - 20$ zone
Invalidation if this setup loses 13.2$ as recent support area
A comparison study of AVAX and its relative performance to BTC through this year's rally and correction. Outperforming in both direction, AVAX demonstrates strong correlation to BTC movements, much stronger in the bullish phase and slightly weaker during the corrective phase. Will it outperform from here?
AVAX is currently bearish, however, it has been consolidating for 118 days and seems to have found support.
Steps to take:
1) Buy at $13.50 support area OR candle open/close above $18.00 resistance line OR multiple buy signals
2) Sell if candle open/close below $13.50 support
Avalanche ( $AVAX ) - has been around for just a year, but has a very strong team lead by Emin Gün Sirer, who notably discovered a key flaw in $BTC - 'Selfish-mining'.
Avalanche's is building an entirely new system of protocols, with an aim to raise entire ecosystems around it. This project holds a lot of promise fundamentals wise.
$AVAX currently trading at $29.70
But TA looking good as per the chart
Stop Loss:- 4 hr candle close below $23
And after breakout $36 then target activated.
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📈 AVAX/USDT | Potential Downward Movement
💡 Sell Limit Order @ 14.89
🎯 Target Profit 14.37
🛑 Stop Loss 15.14
❌ Do not risk more than 1% of your account on each trade
The pair succeeded by breaking the bullish channel to the downside with leaving behind a Head & Shoulders pattern. A higher correction is expected to the highlighted zone before...
1. Timeline : 1H & 4H.
2. Indicator used : FIBONACCI & ICHIMOKU .
3. Forecast : Generally, price is pulling-back after strong downtrend. With this case, we can find and open SHORT entry at strong resistance by using FIBONACCI RETRACEMENT and ICHIMOKU . I used FIBONACCI 618 and KUMO CLOULD for identifying opening entry. I recommendations...
I think it is worth accumulating AVAX here, it is a very good underrated cryptocurrency, in my opinion very big in #DEFI
If it falls, I will not think about buying it below, but I will do it immediately