Avaxanalys
AVAX NEEDS TO HEELHi!,This is my Avax setup for the upcoming week :)
Target 120.38 potential profit 10.83%
Stop loss 102.38 potential loss 5.74%
As you can see we got a Strong support area at around 106.11
If you have any feedback about the chart pls feel free to tell me:)
MY IDEA ONLY NOT A FINANCIAL ADVICE!!!
Love Yall :)
AVAX/USD: New Kid in Town Still Capturing Speculative HeartsAVAX/USD has come off all-time highs achieved only two days ago, but Avalanche has remained rather firm as it flirts with its upper price realm.
AVAX/USD has captured the attention of many cryptocurrency speculators and has established itself as the number ten digital asset via its market capitalization in a short span of time. One of the attractive aspects about AVAX/USD is that while its trading life may be short regarding timeframes, it was established by respected a respected cryptocurrency team, and has the backing of major investment firms. Avalanche is a potential rival to Ethereum.
On the 21st of November, AVAX/USD hit a price of nearly 147.50000000 before suffering a short-term reversal which has seen lows since then of about 126.50000000. However, since moving downwards after establishing the record price, AVAX/USD has actually created an almost tranquil trading range in the past day and the price as of this writing is near the 131.50000000 ratio and looks relatively firm. Short-term support looks to be around the 127.00000000 while resistance targets could be perceived to be around 137.5000000.
Trading conditions within AVAX/USD have been fast the entire month of November. On the 1st of this month, the cryptocurrency was near 65.00000000 USD; yes, that is correct. AVAX/USD has more than doubled its value in about three weeks. Speculators should be impressed by the illustrious gains, but they also need to stay realistic and consider the possibility that they have missed the first couple of rocket rides upwards in AVAX/USD. What can go up can also go down in the cryptocurrency world.
Avalanche coin has created a blockchain which hopes to compete with Ethereum by allowing smart contracts to be traded on its technology in a more secure manner, in addition with the claim that its transactions will be much quicker. After reaching an all-time high only two days ago, intriguingly, AVAX/USD seemed to stumble near what can be considered an inflection point. When the 150.00000000 came into sight it seems as if AVAX/USD began to lose momentum. Can this juncture be surpassed soon?
AVAX/USD has garnered plenty of attention from a broad base of cryptocurrency speculators this month and it may be able to generate even more publicity in the near future. While the broad cryptocurrency market via Avalanche’s competitors have found rather stiff headwinds the past couple of weeks, AVAX/USD has found upwards momentum which may continue to be generated near term. If current support levels are sustained near the 128.00000000 to 126.00000000 marks, traders may be tempted to continue to look for upside traction.
Avalanche Short-Term Outlook
Current Resistance: 137.50000000
Current Support: 127.00000000
High Target: 148.00000000
Low Target: 122.47000000
AVAX Possible Bullish BounceCHART SUMMARY
Binance - Weekly Candles - AVAX/BTC
CHART OVERVIEW
Fibbonaci Circles: from the centre outwards = 0.382, 0.618, 1, 1.618, 2.618, 3.618.
ANALYSIS
The price is heading towards the green 0.618 circle, this is a pivotal price point and could indicate a bullish bounce is upcoming.
CONCLUSSION
If lots of volume and a sharp rise occurs after contacting the 0.618 circle this is looking bullish, if price drops through and lingers below it's looking bearish.
What do you guys think, bullish or bearish? Personally I'm bullish based on fundamentals and price action.
*DISCLAIMER: NOT PROFESSIONAL ADVICE
Wait for the right moment to bag some AVAX AVAX is another coin that presents a very good opportunity in the near future.
In the higher Time Frame (D1), we saw that there was a beautiful retrace on the 61.8% which is referred by some experts as the Golden Ration. So from that we highly expert a to the upside.
If price comes to that area and we fond some rejection to the upside or a bullish pattern , then we can buy and target a 40 - 50% of profit on the trade.
avaxHas managed to defeat its ascending channel midline
At the same time, it has broken its price ceiling and recently hit that pullback
The trading volume in the last three months has been excellent
If the RSI resistance (70) breaks, it can grow by another 50%
It is important to keep the midline price high
It has a good future ...
AVAX - potential trade ❗❗AVAX is near its trend line. Additionally, we see a squeeze, which is a good signal for a breakout and continuation of the rise. Good buying opportunity will be after a breakdown or retest of the trend line as support.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.