Avalanche's Higher Low Indicates The Bottom Is InAVAX is currently trading above its August 2024 bottom low price, and this is bullish.
AVAXUSDT produced a major low on the 10-March trading session. The current session is a higher low compared to this date. This is a double bullish signal. The August low and last month. Both are active, valid and hold.
So the August 2024 low was actually tested and pierced but the session close happened above this level. The bottom back then was $17.27. In March, AVAXUSDT went as low as $15.30 but closed at $17.51. The next session went below again and hit $16.95 but closed at $18.5. As you can see, the bulls win.
The current session is green after four sessions closing red. Each session has two candles, 48 hours (2D candles).
Here we have the activation of long-term support. Classic behaviour before a major bullish run.
The dynamic is always this: The correction unravels and gains momentum before reaching its end. When it hits bottom, there is a strong reaction causing a sudden bullish jump. This bullish jump is short-lived and quickly corrected. This short-term correction ends in a higher low. From this higher low, prices start a new wave of growth. We are entering this new growing phase now.
Thanks a lot for your continued support.
This is another time based chart.
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