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AVAXUSD.P trade ideas

AVAXUSD Ready for a bullish break-outAvalanche (AVAXUSD) has been trading within a Channel Down pattern for the past 6 months and is testing today the 1D MA50 (blue trend-line). The same kind of test after a 1D RSI Bullish Divergence was performed in AVAX's previous Channel Down on January 09 2023. Observe the perfect symmetry on the RSI levels of the two dates. When the price closed above the 1D MA50, it initiated a massive rise on the next candle that easily broke through the 1D MA100 (green trend-line), hit the 1D MA200 (orange trend-line) and peaked a little above the 0.618 Fibonacci retracement level. As a result, we will buy the break-out and initially target the 1D MA100 at 11.000. If it breaks above the 1D MA200, we will buy that 2nd break-out and target the 0.616 Fib at 15.500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:AVAXUSDLong
by TradingShot
6
Avalanche: Already done?! 🤔Avalanche has recently experienced a renewed rise, which has ended in the last few hours. We have to admit that the price has approached our magenta target zone (coordinates: $9.03 - $5.62), thus fulfilling the (minimum) technical requirement for this move; however, until the price convinces us of a final backed low of wave (2) in yellow with further clear rallies, we still have to assume that it will go a bit deeper into our zone. Ideally, we see the price approaching the lower violet trendline here, but of course, it can use the entire target zone to complete the reversal. In turn, traders can use the zone to enter long positions.
BINANCE:AVAXUSDLong
by MarketIntel
Will Avalanche Sail Smooth To $12?AVAX price breaks a solid resistance trendline, indicating a bullish move. The coin price shows a rounding reversal from $8.75. A jump to $10.86 is teased, with a potential to reach $12. Recent market recovery fuels a 6.43% weekly jump in AVAX price. Current trading price is $9.34 with an intraday growth of 0.68%. The breakout candle struggles to find a strong closing above the resistance. 50-day EMA at $10 could pose a challenge. Lower high formation finally shows a bullish candle in the weekly chart. Prices must sustain above the resistance trendline for the uptrend to continue. A bearish setback could occur if prices fail to sustain above $10. Supply inflow expected at the $12 mark. Failure to sustain above resistance could see prices drop to $8.75 or even $8.
BINANCE:AVAXUSDLong
by Coinpedia-Market-Insight
Will AVAX Prices Sustain Above $10? AVAX coin prices hold strong at the $10 psychological support. A falling channel pattern is observed in the 4-hour chart, indicating a bearish phase. The coin has lost 37% in two months, dropping from $15.99 to $10. Multiple support levels between $16 and $10 have been broken. The $10 demand belt is under significant selling pressure, with bearish indicators in both 40-hour and weekly charts. A descending triangle is evident in the weekly chart. The $10 zone has historically been a strong support, helping AVAX reach a height of $151 since 2021. A 46% drop in the last three months signals potential bearish activity. If prices fall below $10, they could potentially reach as low as $6.20. A close above $11.19 could initiate a recovery phase and channel breakout.
COINBASE:AVAXUSD
by Coinpedia-Market-Insight
What Are The Chances Of AVAX Bouncing Back From $10? AVAX coin warns of a breakdown below $10. Falling wedge pattern observed in AVAX's daily chart. RSI at its lowest in 2023 indicates high selling momentum. Intraday fall sees AVAX price dip to $9.91. Closing below $10 could amplify bearish sentiment for Avalanche. AVAX's YTD loss stands at 7.93%. Daily RSI shows signs of bullish divergence. Selling pressure might push AVAX to the falling wedge's support trendline. Potential recovery could see AVAX bounce back to $12.30.
BINANCE:AVAXUSD
by Coinpedia-Market-Insight
How Low Can AVAX Prices Go? Rapid Drop: AVAX coin prices have dropped rapidly in the bearish market, bottoming out at $10 for now. Lowest Daily Closing: The AVAX price closed at $10.58, the lowest since late 2021. RSI Levels at Lowest: With the RSI levels at their lowest in 2023, the selling momentum has reached a new high. Crushing Correction Phase: After a remarkable recovery in early 2023, AVAX entered a severe correction phase, failing to find support at crucial levels. Bounce Back and Reversal: Bouncing back from $11 in June led to a 32% gain, but higher price rejection caused a more severe correction. Breaking Support Levels: AVAX price broke multiple support levels, including $12.15, dropping to $9.90 before closing at $10.58. Retest at $10.78: Following multiple bearish candles, AVAX retested the $10.78 mark, vaporizing the YTD growth and resulting in a 1.15% loss. Bollinger Band and RSI Indicators: The falling prices stretched the bottom support of the Bollinger band, with stochastic RSI preparing a positive crossover and the RSI line dropping to its lowest in 2023. Sustainability Above $10: Intense selling and market conditions may lead to further decline if AVAX drops below $10, but lower price rejection indicates readiness to buy the dip. Potential Breakdown or Recovery: In a prolonged selling phase, the price could reach $9.60, while closing above $11.19 may trigger a recovery phase.
BINANCE:AVAXUSD
by Coinpedia-Market-Insight
Avalanche summit path: Down before we climb heights to glory!History doesn't rhyme but it often repeats. Technical Analysis: Rejection from 21W EMA & 20W SMA $11 repeat support tests will eventually breakdown, especially with Q3 and Q4 being historically poor performance for alt coins. Side this with actual recession now going to play our as opposed to initial fears. Worst case scenario; $4.20 (hehe) as strong support line. If it does reach here... Time to start going all in (not actually, I mean leverage, possibly 3x max) Looking at market cycle, we've have two LL's so far but are yet to see the 3rd LL (depression phase). With shitcoins still pumping in this market environments (monetary tightening and reducing liquidity) greed has not been flushed yet. Moreover, looking at the last crypto market cycle, alt coins went into a bear market for approximately 750 days, it's still to soon yet to call the bottom. Always hard to say but not a bad idea to nibble DCA in case we do somehow go on a tear up. It's a wild rodeo in crypto markets. Fundamentals Here are some of the best fundamentals for an increase of the AVAX token: - Strong partnerships and adoption. Avalanche has been partnering with a number of major companies and organizations in recent months, including Amazon Web Services, Deloitte, and the U.S. Department of Energy. This adoption is a sign of confidence in the Avalanche platform and could lead to increased demand for AVAX tokens. Growing DeFi ecosystem. Avalanche has a rapidly growing DeFi ecosystem, with over $10 billion in total value locked (TVL). This growth is being driven by a number of factors, including the low fees and fast transaction speeds of the Avalanche network. - Scalability and speed. Avalanche is one of the most scalable blockchains in the world, capable of processing over 4,500 transactions per second. This makes it a good choice for applications that require high throughput, such as DeFi and gaming. - EVM compatibility. Avalanche is EVM-compatible, which means that developers can easily port their Ethereum applications to the Avalanche network. This makes it a more attractive option for developers than other blockchains that are not EVM-compatible. - Active community. Avalanche has a large and active community of developers and users. This community is constantly building new applications and projects on the Avalanche network, which helps to drive demand for AVAX tokens. - Positive Regulatory Environment (AVAX itself). A favorable regulatory environment in key markets can boost investor confidence. If regulators in major countries provide clarity or positive guidelines regarding the use of Avalanche or AVAX, it can lead to increased investor interest. Tokenomics - Limited supply. There is a maximum supply of 720 million AVAX tokens, which is a relatively small supply for a major cryptocurrency. This could help to drive up the price of AVAX tokens as demand increases. - Staking rewards. AVAX tokens can be staked to earn rewards. This staking mechanism helps to secure the Avalanche network and also provides a way for investors to earn passive income from their AVAX tokens. - Fee burning. All fees on the Avalanche network are burned, which reduces the circulating supply of AVAX tokens over time. This helps to increase the scarcity of AVAX tokens and could drive up the price. - DeFi ecosystem. The Avalanche DeFi ecosystem is growing rapidly, and this could lead to increased demand for AVAX tokens. As more DeFi applications are built on Avalanche, more AVAX tokens will be needed to pay for gas fees and other transactions. - Institutional adoption. Avalanche is starting to gain traction with institutional investors. This could lead to increased demand for AVAX tokens as institutions start to allocate capital to the cryptocurrency market. Overall, the tokenomics of AVAX are designed to support a rising price for the token. The limited supply, staking rewards, fee burning, DeFi ecosystem, and institutional adoption are all factors that could drive up the price of AVAX tokens in the future. Investing/Trading I love asymmetric returns. How can you resist 20x returns to ATH and 75x returns for bullish case scenario? As my favorite crypto guy says "Time is on our side" - Benjamin Cowen
BINANCE:AVAXUSDLong
by Muri001
Closer To $12, Is AVAX Planning A Bounceback This Month?Ongoing Downtrend: AVAX coin price has trended lower, experiencing a 19% drop under a strong resistance trendline. Broken Support & Fibonacci Level: A break in crucial support trendline and the 61.80% Fibonacci level highlights a rise in selling pressure. 19.24% Below Swing High: The AVAX price is significantly below the previous swing high of $15.59, resulting in lower high formations. Challenges at $12.87: Buyers failed to hold prices above $12.87, testing bullish dominance at the 78.60% Fibonacci level at $12.13, but managed a bounce back. Recent Price Movement: AVAX prices are up by 1.55% in the last 24 hours, continuing to challenge the resistance trendline. Mixed Technical Indicators: The Stochastic RSI indicates potential reversal, moving towards oversold territory, but MACD lines show a bearish crossover. Potential Outcomes: Optimistic Scenario: If recovery breaks the resistance trendline, AVAX prices could reach $14. Pessimistic Scenario: A breakdown of the 78.60% Fibonacci level at $12.13 might result in an 8% fall to $11.19.
BINANCE:AVAXUSDLong
by Coinpedia-Market-Insight
AVAXUSD Long Trade Target 31$The AAVAXUD pair breakout from the downtrend stabilizing right above CC Fib (0.618 and 0.66). Next, we are looking at a closed above Anchored Vwap & NPOC both coming at 16.9 USD. Any close above that will start an impulsive move up to the levels described on the chart. We are looking at the high of the range coming at 30$. The bases for the Analysis is the Fixed rage volume profile, Weekly candles are constructed based on fractals for liquidity and the structure is based on previous break out. Note analysis is done on a Weekly time frame. This is not a Financial Advice just my analysis and trading plan. 16.94$ A small TP 1 and move stop loss to Neutral. Anchored VWAP and NPOC 22.72$ TP 2 - VAH of the Range. Any close above 22.85 above the parallel channel I am looking at TP 3 and final. 30$ is VAH TP 3 Then I will wait for a retracement to the CC levels and possibly a New yearly High.
COINBASE:AVAXUSDLong
by Crypto_Raheel
AVAXUSD: testing the 1D MA200 and top of 6 month Channel Down.AVAXUSD hit today the 1D MA200 for the first time since May 8th and almost reached the top of the Channel Down pattern. With the 1D timeframe turning bullish (RSI = 67.628, MACD = 0.250, ADX = 21.860) but the RSI also at the top of its own Channel Down, we want to get a confirmation of a breakout before buying and that will be above the R1 (17.6000), otherwise we will wait for a 1D MA50 retest. Either way, our medium term target is the R2 (TP1 = 21.5000) and long term the R3 (TP2 = 30.8000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:AVAXUSDLong
by InvestingScope
2