Avalanche (AVAX)

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.

Anmerkung

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.

Anmerkung

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.

Anmerkung

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.

Trade ist aktiv

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.

Anmerkung

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.

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