Avalanche is another great project in crypto market which seems to have a bright future. Clearly, a harmonic pattern formed, finished, and the downtrend line broke too. Also, there is a horizontal support/resistance area on which price have bounced several times and will probably react on it again. Now, only time will tell how far up this project can go. Let's see what happens.
ملاحظة
AVAX was moving in a descending channel when a strong upward impulse wave started that broke the channel. Now, AVAX has reached a resistance area; an intersection of a major downtrend line and a minor horizontal area. There is a possibility of correction and then an upward continuation. Let's see what happens.
ملاحظة
So, AVAX broke all kind of resistances and lines and went up very well. AVAX is approaching a major horizontal resistance area. Let's see how AVAX reacts to this area.
ملاحظة
So, AVAX went up and reached the major horizontal resistance area, but couldn't break it. Then correction started, and AVAX went down to the accumulation area, the best area for spot re-entry. Let's see what happens.
تم فتح الصفقة
So, even though AVAX went down a little bit further, but, AVAX gained enough momentum to start the next upward wave. Let's see what happens.
ملاحظة
So, AVAX analysis is still valid. In the previous uptrend, AVAX couldn't break through the major horizontal resistance area, thus another minor correction started. Also, it seems AVAX is moving in a descending channel and currently bouncing from the bottom. Let's see if AVAX can break it this time.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.