Avax
AVAX AT RESISTANCE, READY FOR A BREAK?This is AT RESISTANCE at $80.44, so for me this is not the time to consider buying.... yet.
Traders should be watching for a break of that level and ideally a retest as support, before targeting the key resistance just below $100. As you can see in the circled area, 5 candles failed to break that resistance last time price reached it, so you can expect it to potentially be a tough nut to crack.
But first $80.44...
Price is trading in a local descending channel with alternating touches up and down. This is NOT a bear flag, which would have to be ascending at the bottom of a move like this. It is also NOT a bull flag, which would be a descending channel but at the TOP of a move.
Either way, a descending channel should statistically break to the upside. We just saw something very similar on Bitcoin.
🆓Avalanche (AVAX) Apr-20 #AVAX $AVAX
AVAX just formed a bear-trap when it broke down to the $75 zone, so in the near future AVAX can rise sharply to the $100 and $120 zones. The $120 zone may not be the final target for AVAX as it can still break through with a Broadening Rising Wedge pattern. However, if AVAX loses the $75 zone, it will easily fall back to the $55 zone
📈RED PLAN
♻️Condition : If 1-Day closes ABOVE 75$ zone
🔴Buy : 75
🔴Sell : 85 - 100 - 120
📉BLUE PLAN
♻️Condition : If 1-Day closes BELOW 75$ zone
🔵Sell : 75
🔵Buy : 65 - 55
❓Details
📈Red Arrow : Main Direction as RED PLAN
📉Blue Arrow : Back-Up Direction as BLUE PLAN
🟩Green zone : Support zone as BUY section
🟥Red zone : Resistance zone as SELL section
AVAXUSD close to starting a rally to $250.00Avalanche (AVAXUSD) has been trading below the 1D MA50 (blue trend-line) for the past week, ever since the pull-back from the April 02 High. Even though that rattled the confidence of many market participants, there is no cause for concern as this was a short-term profit-taking correction within the larger Rising Wedge pattern on the long-term.
The coin is coming off an Accumulation Phase similar to those of June - July 2021 and October - December 2020. The 1W MA50 (red trend-line) has been supporting for the past 8 months and the 1D LMACD is approaching a Bullish Cross formation. This is a bullish indicator mix, familiar with the previous Rise phases that led to Higher Highs on the Rising Wedge.
The next Higher High is expected to be close to the 1.5 Fibonacci extension. We set a $250.00 long-term target on AVAX.
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AZERO. The Road to $250 Continues Orcheastrated twitter fud groups made an attempt to influence a dump in Azeros price yesterday night. Unfortunately for them it failed as we witnessed a small healthy pullback to ~$2.54. The crypto community will soon realize that Azero is a bluechip coin. With key features like Staking, Common-Fi Airdrop (Universal Dex), record breaking 100,000 transactions, peer reviewed Blockchain, and the first coin in history to solve the blockchain trillema, this is truly a gem like none other.
6 to 8 weeks from smart contracts and staking and yet we are sitting here at $2.86. So what next?
Price will settle around $10 a week before smart contract and staking launch. Four week after the price of Azero will be $100. Is this possible?
"Through 2021 Avalanche’s vibrant decentralised application (DApp) ecosystem and big-name collaborations helped AVAX surge from below $4 to above $100 by the end of the year."
-Mensholong Lepcha
Damn skippy.
AVAX IS CONSOLIDATING UPWARDS. $75 - 77 has been holding as support zone for some days now. Traders are also worried about what direction AVAX will take from here.
Although, this asset is trading along an upward TL, however, two things are possible.
1. Run up
2. Fall down and break the TL to continue the bearish movement.
We need to be guided even if many traders believe that this asset is bullish overall.
KINDLY: share your thoughts, comment, like and follow.
will the weekly trend hold our price??Hello everyone
In 4 hours chart on AVAXUSDT ,We have a good support level on 72.50$ ,plus a weekly trend line which been tested several times and held up pretty good,and we have a support level on 76.50$,which is being tested again as i'm writing this.
For now, because we are still in a bear channel (my opinion not financial suggestion),what i'm doing is to buy at the bottom of the market and sell on top, in lower time frames of course.