AVAX Long Position (Potential Bounce in Conviction Zone
Market Context: AVAX is still in a downtrend but has retraced over 60% from its previous high and is trading in a strong conviction zone. The price is setting higher lows and has reclaimed the 21-day EMA, signaling buyer strength.
Trade Setup:
Entry: Long spot position around $23.
Take Profit:
First target: $29 - $32
Second target: $40 - $44
Stop Loss: Daily close under $20.
Trade Setup:
Entry: Long spot position around $23.
Take Profit:
First target: $29 - $32
Second target: $40 - $44
Stop Loss: Daily close under $20.
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.