AVAXUSD, are sellers planning a new bear raid?Hello TradingView community, today we’re looking at AVAXUSD as price remains in a solid-looking downtrend. We are watching a consolidation pattern that could be a descending triangle or a wedge type pattern in the existing trend.
The key for us is at 28 support. If sellers break this level, the continuation could be on, and we would like to see a new LL set to show normal pattern of trend. If buyers can continue to hold 28 and above, this could be a worry for short term seller momentum that was set with a break of yesterday’s low this morning.
This pattern is also seen on SOLUSD, and other coins in the top 10 remain range-bound.
It’s really up to sellers now if they want to take this trend lower.
Good trading
AVAXUSD trade ideas
AVAX/USDT about to breakoutGood morning,
Today we came across AVAX/USDT. We see that this coin is about to breakout as it is pulling itself upwards. We think that it is going to break the zone at $32.2 and once it breaks it should go as hight as $37-42. We would wait for the confirmation which we would get once the price reaches area $33.5.
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AVAXUSD hit the Channel Up bottom. Levels to watch.Avalanche (AVAXUSD) hit on May 12 the bottom (Higher Lows trend-line) of the Channel Up that started after its February 10 2021 High. That was its first High and May 12 marked its second Higher Lows. Assuming that holds, the pattern will continue to hold and we will have to look for specific markers in order to time a new uptrend.
As you see, there are three indicators that broke in a specific order during the last rise to a Higher High. First the price broke above the 1D MA50 (blue trend-line) following the Higher Low consolidation. Then the RSI on the 1W time-frame crossed above its MA. Finally the 1W MACD made a Bullish Cross. Keep an eye on those conditions and plan a potential buy strategy accordingly.
On the other hand, a weekly (1W) candle closing below the Higher Lows trend-line of the Channel Up, can set in motion the lower Fibonacci extensions, namely the -0.236 and -0.382 before the market bottoms out.
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AVAXUSD (1H) Bearish reversalHi Traders
AVAXUSD (1H Timeframe)
Waiting for the downward break of 29.20 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 37.00 would cancel the bearish scenario.
Trade details
Entry: 29.20
Stop loss: 37.00
Take profit 1: 24.25
Take profit 2: 16.60
Score: 8
Strategy: Bearish reversal
AVAXUSD ❕ price over liquidityAfter exiting the downtrend channel, AVAX formed an uptrend line while moving in the liquidity zone.
The price broke up through the 50, 100 and 200MAs on the 30m Timeframe.
I expect that after fixing above the support level, the price may continue to rise.
It's worth paying attention to volume growth because price just broke above the level.
AVAXUSD ❕ WAVES ScenarioContinuing the movement in the descending channel AVAX broke up 50MA at 30m Timeframe and tested the lower boundary of the channel.
The current behavior of the volumes is similar to how the volumes of trades on WAVES, which we reviewed in a recent idea.
In case the price fixes above the lower boundary of the channel, I expect a bounce to the resistance level.
AvalancheBreaking out of the triangle defines mid-term targets for the Avalanche.
Breakdown of the key support level $60.00, which is the point of intersection of the triangle trendline at D-1, is a strong signal for the continuation of the current trend. The target of $50.00 per coin will be a clear confirmation of the breakout of the key crossover. The support level at $50.00 looks technically confident for considering short and medium-term purchases within the descending channel with the target at $70.00-80.00. The subsequent potential break of $50.00 support opens technical targets for a test of $40.00 and key support at $20.00.