With AVAX gaining momentum and entering the top 10 tokens by market cap, we can expect a lot of movement by this layer 3 solution.
This is what I noticed in my Technical analysis:
Price is forming an ascending channel starting October 27th.
MACD currently in overbought territory, waiting for a retest and confirmation close on the support line to dictate another swing to the upside.
Would likely need to stay above 1.13 level and break above the 3.45 level on the MACD to continue its momentum towards the 1.618 fib at 144.25$
Taking 2 take profits:
first at trend resistance... 116.6$
second at 1.618 fib... 144.25$
Entry for trade at trend support line of 88.965
Stop loss of -13.5% at 77.1%$.... falls below this higher-low, trend is broken
This is what I noticed in my Technical analysis:
Price is forming an ascending channel starting October 27th.
MACD currently in overbought territory, waiting for a retest and confirmation close on the support line to dictate another swing to the upside.
Would likely need to stay above 1.13 level and break above the 3.45 level on the MACD to continue its momentum towards the 1.618 fib at 144.25$
Taking 2 take profits:
first at trend resistance... 116.6$
second at 1.618 fib... 144.25$
Entry for trade at trend support line of 88.965
Stop loss of -13.5% at 77.1%$.... falls below this higher-low, trend is broken
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.