AVAX has recently tested a major resistance level at 875 THB but failed to break through, while the RSI has entered the overbought zone. This suggests a possible short-term pullback. However, the price action hints at the potential formation of a bullish Cup and Handle pattern, with support seen near 734 THB.
Trading Strategy:
A buy entry can be considered at the support level of 734 THB, where the handle of the pattern may form.
If the price holds this level, there is potential for a rebound toward the resistance at 875 THB—this level may serve as a short-term profit-taking point.
If AVAX manages to break above 875 THB, it would confirm a bullish reversal and continuation of the uptrend.
A stop-loss should be placed if the price drops below the previous low at 664 THB.
AVAX is a Layer 1 blockchain positioned to benefit from the growing trend in Stablecoins and Real World Assets (RWA), as the Avalanche network offers robust infrastructure for such use cases.
Trading Strategy:
A buy entry can be considered at the support level of 734 THB, where the handle of the pattern may form.
If the price holds this level, there is potential for a rebound toward the resistance at 875 THB—this level may serve as a short-term profit-taking point.
If AVAX manages to break above 875 THB, it would confirm a bullish reversal and continuation of the uptrend.
A stop-loss should be placed if the price drops below the previous low at 664 THB.
AVAX is a Layer 1 blockchain positioned to benefit from the growing trend in Stablecoins and Real World Assets (RWA), as the Avalanche network offers robust infrastructure for such use cases.
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.
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.