AVAX/USDT Analysis: Key Breakout Opportunity
Avalanche (AVAX/USDT) is trading near $38.9, showing bullish signs after a potential breakout from the descending channel. The price is consolidating below $40, a key resistance. A breakout above this level could trigger upside targets of $50.
Key Levels:
Support: $35, $32
Resistance: $40, $43.2
Indicators:
RSI: Neutral at 48, signaling room for upward movement.
ADX: Trend strengthening with bullish momentum.
Volume: Rising, suggesting accumulation ahead of a breakout.
Trade Plan:
Entry: Above $42.5 with volume confirmation.
Targets: $50 (long-term).
Stop-Loss: Below $37.
A failure to break $40 could lead to a retest of $35 for a better entry. Watch volume closely for confirmation.
Share your thoughts or alternative perspectives to refine this analysis!
Key Levels:
Support: $35, $32
Resistance: $40, $43.2
Indicators:
RSI: Neutral at 48, signaling room for upward movement.
ADX: Trend strengthening with bullish momentum.
Volume: Rising, suggesting accumulation ahead of a breakout.
Trade Plan:
Entry: Above $42.5 with volume confirmation.
Targets: $50 (long-term).
Stop-Loss: Below $37.
A failure to break $40 could lead to a retest of $35 for a better entry. Watch volume closely for confirmation.
Share your thoughts or alternative perspectives to refine this analysis!
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
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.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
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.