AVAXUSDT trade ideas
AVAX at strong historical resistance. Time to short?Avax price is at strong historical (2021) resistance on the weekly chart. Rsi is in the high oversold area.
On the daily chart the volume is dropping for six days and the price can't break 42ish resistance (bearish divergance). Also the Rsi is above 90 on the daily chart.
My opinion is it needs to cool down before another jump.
Avax price at strong historical resistance. Time to short?Avax price is at strong historical resistance on the weekly chart. Rsi is in the high oversold area. On the daily chart the volume is dropping and the price can't break 42ish resistance on the several candles. Rsi above 90 on the daily chart. My opinion is it needs to cool down before another jump.
What are your ideas for the rise continuation if so?
AVAX - bearish divergenceshi Traders,
AVAX pumped a lot and we can see a tripple bearish divergences.
At the moment, the price is bouncing from the support but it may be a short lifted bounce as these divergences are real now and in my opinion it will be difficult to continue this uptrend without dipper pullback.
Expecting one more push up to form a reversal pattern such as double top, and next dipper correction towards 32 $.
Entry, target an stop loss are shown on the chart
Do you agree? :)
Avax contraction into volatilityAvax has contracted during an upward market with marked consolidation. The RSI is taking a breather and a local demand is updated. I expect another push here as the token consolidates directly on an important historical resistance level. Volume is growing immensely , especially after this CPI print that was bullish. We might even test this golden fib ( very bullish if so) at 55$ soon.
Avaxusdt Trading ideaYou all will agree with me that AVAXUSDT hit major ATH in Novemeber 2021 which follows with massive correction immediately and finally found bottom in December 2022which resulted into the price dropping about 92.8% of its value.
Major bullish divergence was observed with RSI, the Relative Strength Index (RSI) indicator for AVAXUSDT is currently showing a bullish divergence, with the RSI forming higher lows while the price is forming lower lows. This is a sign of bullish momentum building up, and it could indicate a potential reversal in the near future.
In respect to the divergence, I believe this resulted into upside rally from late December 2022, and this move is expected to continue until price test out the major downtrend trendline resistance area.
Right now, the price heading to our Buy back zone where an immediate reversal of price is expected. Failure of price to hold this level will lead it to test the bottom trendline once again.
We should monitor price action closely and use appropriate risk management strategies as necessary.
AVAXUSDTIf AVAX drops below the previous pDLOW, then we will look for a long position in the purple zone. When it rises to around 0.5 fib, we start considering a short position. Because if it has gone below pDLOW, it means it is weak, and the trend is starting to change. If it doesn't drop below pDLOW, it is still BULLISH, and we don't consider going SHORT.
AVAX (Follower Request)Somebody just asked my thoughts about Avaxusdt.
I Just don't trade this one at all so this is not any trade idea.
I am just sharing my thoughts and idea about what could happen and what could be the ideal scenario in this one.
I think this one can claim 50 Area and Deviate back to range.
Boosts and follows helps me to motivate for new Ideas.
Thanks.
Note: This is not a trade idea.
Note: Not a Financial Advice.
AVAX Continued its Upward TrajectoryAvalanche (AVAX)
Despite Bitcoin's recent decline to the $40,000 mark, AVAX has continued its upward trajectory this December. In the last fortnight, the asset has surged by 66%, hitting a new annual high at $42.96.
Currently, AVAX is undergoing a correction, with its price hovering around the support zone of $32.7-$34.7. The key resistance level to watch is $38.4. If breached, the coin might retest the higher resistance zone of $40.7-$43.0.
The future course of AVAX will heavily depend on Bitcoin's trend. A continued downtrend in BTC could potentially drag AVAX down to new lows, possibly to $30.5 or the $26.2-$28.4 level.
AVAX → Avalanche About to Reverse!? Or Continue to the Upside?Avalanche has been roaring through a nice curving bull channel until the top of the third push at $42.75! A nice sell signal formed on yesterdays daily candle, now we need to see how today closes to make our next move.
How do we trade this? 🤔
Avalanche had its third push up in the bull channel, a typical number of legs before the trend changes into a trading range or reverses. Given Bitcoins recent sell-off at a key resistance level, I believe it will drag AVAX down with it. AVAX has a sell signal on yesterdays candle and if today closes with a strong bear candle, we're likely looking at putting in some more lows. The RSI is also over 75.00 and below the moving average, all supporting at least a short-term bearish sentiment.
We need follow-through! Yesterdays signal is not enough justification to enter a short. It's best to wait for the price to fall to the 30EMA and see what happens there. If we get a bounce then another rejection to the downside, we'll have a head and shoulders reversal pattern on our hands at which time, a short will be justified.
💡 Trade Idea 💡
Short Entry: $26.00
🟥 Stop Loss: $32.00
✅ Take Profit: $14.00
⚖️ Risk/Reward Ratio: 1:2
🔑 Key Takeaways 🔑
1. Bull Channel, Bias to Long!
2. Three Pushes up in Trend with Sell signal, Signal to Change Trend.
3. Gap to Second Push Support Line.
4. RSI at 75.00 and below Moving Average, Bias to Short
5. Wait for Short Confirmation at potential Right Shoulder.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and comment if you found this analysis useful!
AVAX possible bullish wave AVAX / USDT 4H
Since start of the bullish wave in October, price didn’t lose the EMA100 which acted as dynamic support, price touched it few hours ago and got bounced
Also #AVAX has broke bullish pennant
Looks bullish in short term
Invalidation : if lost the EMA it can drop to next support which located around 17$
Avalanche (AVAX) posts triple-digit monthly gainAvalanche’s market cap has grown by 340% since October, and AVAX price has followed.
The latest rally has seen Avalanche’s total market value grow more from $3.25 billion when the recovery started in mid-October to the current value of $14.35 billion. This represents an increase of over $341% in just two months.
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Always do your own research and consult with a licensed investment professional before investing.
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AVAX LOOKS BEARISHBy hitting the red lines, which are daily supply, the price has turned downwards and a bear CH has been formed and the trend line has been broken. It is expected that after a little fluctuation and the efforts of buyers, the price will move towards the specified target
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You