AVAX TREND UNDER THREAT?
AVAX 1D: Bearish flag brewing as illustrated between the white regression lines. Also note the declining volume against rising price as shown along the bottom of the chart. Strong price architecture is built on a solid volume foundation. That foundation looks to be waning.
A downside breach of the 24.17 level, which is (-2 ) standard deviations off the linear mean, would potentially put the recent upward trend under threat.
The RSI has touched the overbought level at the top end of its range on the 1 day time frame and begun trending downward. Trips over 70 on larger timeframes such as the 1 day chart are significant indications of a rally potentially coming to its end. Stay nimble out there.
A downside breach of the 24.17 level, which is (-2 ) standard deviations off the linear mean, would potentially put the recent upward trend under threat.
The RSI has touched the overbought level at the top end of its range on the 1 day time frame and begun trending downward. Trips over 70 on larger timeframes such as the 1 day chart are significant indications of a rally potentially coming to its end. Stay nimble out there.
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