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AVAXUSDT trade ideas

Lingrid | AVAXUSDT long from SUPPORT levelThe price perfectly fulfilled my previous idea. It hit the target level. BINANCE:AVAXUSDT has pulled back towards the support level after being rejected at the resistance zone around 30. On the daily chart, we can see that the market has reached a demand zone, which suggests that the price may be poised for a potential reversal. Additionally, we can see that price action is forming an inverse head and shoulder pattern. Given this setup, I expect the price to potentially drop slightly before bouncing back up to the channel border. My expectation is that the price will retest the midpoint of this range zone before resuming the bullish momentum. My goal is the resistance zone around 30. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
9
Why Avalanche Might Not Hit Its All-Time High During The Next BuI saw a couple of posts lately on social media that predicted 200, 300, or even 500 as a price target for during the next bull run. This surprised me. I don't think that AVAX will get even close to those numbers. To make this very clear, my assumption has nothing to do with the project in general or Avalanche's technology. On the contrary, I am a big fan of Avalanche and think it will be one of the few projects that will exist ten years from now. I think AVAX won't hit its previous ATH during the next bull run for a simple reason: Circulating Supply! AVAX marked its ATH in November 2021, when the price peaked at ~145 USD. Based on the circulating supply at that time (~230m), the asset had a market cap of ~33b. Since 2021, the circulating supply of AVAX has constantly increased. Moreover, it will continue to increase until it reaches its total supply 443m. Currently, AVAX has a circulating supply of almost 400m. As a result, to reach the ATH price again, AVAX requires a market cap of 58b. That's almost twice the size of its previous ATH market cap. Although it isn't completely unrealistic, I consider it unlikely that Avalanche will double its market cap compared to the last bull run. But even if I am wrong with this assumption, the numbers show how unlikely prices of 200, 300, or even 500 are. Just to do the math: A token price of $500 would lead to a market cap of 200b. Nevertheless, I still think AVAX has a bright feature and solid potential during the next bull run. At the same time, I consider it essential to have realistic targets.
by ben_walther
Spotting a Bullish Opportunity: AVAX/USDT Cup and Handle PatternI recently identified a classic Cup and Handle pattern in the AVAX/USDT trading pair, which is now breaking out and currently undergoing a test of the breakout level. This pattern suggests a potential price target around $34. The chart shows the cup formation, followed by a brief consolidation (the handle), and now we are witnessing the breakout. The price is testing the breakout level, which is a critical phase before the expected upward move. Stay tuned and watch for this potential price relief rally in AVAX/USDT!
Long
by ArslanIftikhar
Avalanche (AVAX) Rises: Can It Break Thru $30?Avalanche (AVAX), a prominent smart contracts platform, is currently experiencing a surge in price. As of July 1, 2024, AVAX is trading confidently above the $28.65 resistance level, hinting at a potential breakout. This article delves into the recent AVAX price rally, explores the technical analysis behind it, and examines whether AVAX can conquer the critical $30 resistance zone. A Bullish Breeze for AVAX The ongoing AVAX price rally offers a sigh of relief for investors after a period of price stability. The current movement signifies positive momentum, with AVAX climbing steadily from its $27.40 support level. This upward trend is further bolstered by the fact that AVAX is currently trading above both the $28.65 resistance level and the 100-hourly simple moving average (SMA). Technical Indicators Paint a Breakout Picture Technical analysis is a valuable tool for understanding price movements and predicting future trends. In the case of AVAX, a crucial technical indicator is the recent break above the declining channel with resistance at $28.40 on the hourly chart. This breakout suggests a shift in momentum, potentially paving the way for a further price increase. The $30 Hurdle: A Crucial Test While the current trend is undoubtedly positive, a significant hurdle awaits AVAX at the $30 resistance zone. A decisive break above $30 would be a strong bullish signal, indicating continued upward momentum. If achieved, this breakout could lead to further price appreciation, with potential targets around $32.50 or even $34.00. Support Levels: A Safety Net It's crucial to remember that the cryptocurrency market is inherently volatile. Even in a bullish scenario, there's always the possibility of price corrections. For AVAX, the $29.35 and $28.65 levels act as critical support zones. If the price fails to surpass $30, these support levels can prevent a significant decline. Additionally, the 50% Fibonacci retracement level of the upward move from $27.37 to $29.95 provides another layer of support around $28.65. A drop below $28.65 could lead to a slide towards the $28.00 level and the 100 SMA (4 hours). The $27.40 zone would be the next important support to watch in case of a deeper correction. MACD and RSI: Bullish Whispers Beyond price action, other technical indicators offer valuable insights. The Moving Average Convergence Divergence (MACD) indicator for AVAX/USD is currently climbing in positive territory. This suggests increasing bullish momentum. Additionally, the Hourly Relative Strength Index (RSI) is hovering above 50, indicating that the market is neither overbought nor oversold. This neutral RSI reading implies that there's still room for the price to rise before a potential correction. Looking Ahead: A Promising Future for AVAX The current price rally for AVAX is a positive development, with technical indicators suggesting a potential breakout above the $30 resistance level. If achieved, this breakout could lead to further gains. However, investors should exercise caution and be aware of the crucial support zones at $29.35 and $28.65. Monitoring the MACD and RSI indicators can also provide valuable insights into the ongoing price trend. Overall, the outlook for AVAX appears promising, and a break above $30 would be a significant bullish signal for the cryptocurrency. Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult with a financial professional before making any investment decisions.
Long
by bryandowningqln
Avax - IHS in the making?Looks like Avax is currently printing a nice IHS with the neckline sitting around 28-29$. If this pattern is going to play out we should see a right shoulder forming over the weekend, preferably slightly above the lowest point of the left shoulder, so around 26$ would be ideal. If you are planning to trade this you can place your stop just below 23$ as it should not get below this point (IF it's going to be an IHS that is). Target should be around 35-36$. Stay safe!
by TV288
Market Analysis: Bitcoin and AVAX📅 Today's market conditions aren't significantly different from yesterday. Given that it's Sunday, it's essential to minimize risk and avoid unnecessary positions. I'll start with a Bitcoin analysis and then move on to AVAX. 👑 Bitcoin Analysis 🔍 In the 1-hour timeframe, as I mentioned yesterday, there was a potential reaction at 60718, which occurred around 60739. Following this, the price moved upward with strong momentum, forming two powerful bullish candles. However, volume has started to decrease, indicating that the bullish momentum has temporarily subsided. We need to wait for a confirmation to see momentum re-enter the market. 📈 For a long position, I still wait for a break of 62168, which coincides with the 0.618 Fibonacci retracement level. If this level breaks, the price could move up to 63583. If the RSI stabilizes above 70, we could consider entering a long position earlier. 📉 For a short position, our trigger has shifted slightly to 60739, considering the market's reaction to this level yesterday. This could be a good short trigger with a target of 59323. However, volume needs to increase in the market, so it might be better to wait until the new week starts. ⛓ AVAX Analysis 🗂 The AVAX project operates on its blockchain, where AVAX is the primary coin used for transactions, fees, staking, and DeFi applications. 🔍 In the 4-hour timeframe, after a decline, the chart hit the support level at 23.84 and started to correct, now moving upward in the Low Wave Cycle. However, the decreasing volume favors a bearish trend continuation. We can expect the downtrend to continue if the price stabilizes below the 23.84 support. 📈 For a long position, you can enter upon breaking 28.59, but keep in mind that the volume is low, and you're trading against the main trend. The target for this position could be 30.88. If the RSI enters the overbought territory, it can provide confirmation to keep the position open. 📉 For a short position, you can enter upon breaking 27.69, though this trigger is quite risky. The main short trigger is at 23.84; breaking this level allows entering a short position. A break of 50 on the RSI can provide a suitable confirmation for bearish momentum entering the market. 📝Both Bitcoin and AVAX are at critical points. Bitcoin's low weekend volume suggests caution, while AVAX presents clear short and long opportunities based on the triggers discussed. Monitor volume closely and ensure confirmations through RSI patterns to make well-informed trading decisions. 🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
1
The Possible Bullish Trend for AVAX!BINANCE:AVAXUSDT is about to break out of the s/r zone on weekly timeframe. ✨Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
2