Avalanche has been one of the surprises of 2021 and despite the market correction since November, it is seen consolidating in rage. I've spotted an interesting cyclical behavior of AVAX, which can provide a fairly accurate pattern to long-term investors.
As you see it is going through phases of accumulation - rise - sell off. There is an underlying Fibonacci...
1) ma200 bounce
2) pivot support 85 bounce
3) breakout descending triangle
4) break down 85 & ma200 support
Take your pick. which will be most probable?
AVAX seems to be forming a descending triangle.
Pivot support at 85 (also near projected ma200) Measured triangle breakout targets 165(almost 2x)
Pls correct me if my analysis is wrong.
pls do own analysis befrore trade.
Avalanche (AVAX) has been one of the top-performing cryptocurrencies in the past 24 hours, with the price standing above the considerable psychological number of $100. Throughout this analysis, we'll show you how to apply the Elliott Wave theory to identify where we are in the overall bullish cycle.
AVAX Elliott Wave Analysis
Long-term Elliott Wave analysis...
We might see crazy increase in demand in AVAX c chain!
A lot people trading AVAX FOR TIME to stake in WONDERLAND.money.
I gotta be honest I did it myself I grabbed some sheared at 114$.
Just invest what you can afford to loss. It could be a scam!
End posting quote:
If YOU NOT a hater and support others like this post! It does MAKES A DIFFERENCE...
Sloppy double bottom, pennant inside the range box just for resistance points. Breaking out of this "box" entirely could send us flying in the direction in which it broke out. Buyers are in control as of now volume-wise. As of this time, it is rejecting a certain FIB level. All on a daily time frame. Time will only tell what will happen next, that's the fun part...
Time distribution, nearing markdown.
TIME just converted most of the treasury to stables. A good sign.
Messi just sold a huge chunk of his stack. A not so good sign.
MEMO APY still >80,000% making people think it's safe while whales have been distributing. Dani has not sold any, but I don't expect him to for a long time.
AVAXUSDT is currently on a bearish run. Key level here is 88 at least, based on fibonacci. It is currently in an accumulation for ascending channel with the hopes of going back to 128 level or possibly higher.
Disclaimer: This is for educational purposes only.
First and foremost this is my own hypothesis and in no way suggests a buy or sell advice.
We reached a bottom during the correction phase of our white impulse towards $76.
We are now in the process of forming our wave 3 which will most likely go for the 1.618 Fibonacci to reach $235 before correcting again.
Furthermore, we will be able to validate the bullrun...
The struggle for liquidity among ecosystem projects continues unabated. In 2022, we will see a further confrontation between ETH 2.0 and its layer-2 solutions versus existing layer-1 solutions with and without EVMs. This is something we can take advantage to make money.
AVAX has started a new upward movement.
It is better to look for an entry...
Avax is breaking up and perhaps about to perform an inverse head and shoulders, I have a conservative target of $120 and $122 is also easy just in one push up. This could be a nice impulse on hourly. NFA, DYOR