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AVAX / TetherUS

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AVAXUSDT trade ideas

AVAX: Pullback in UptrendTrade setup : Following a bullish break above $35 key level, price has reached our target of $50 resistance. However, price got very overbought (RSI ~ 82) and we’re seeing some profit taking. Now we wait for the right entry area (support). How far could it pull back? The nearest horizontal support is $35 and the nearest Fibonacci Retracement levels (possible support) are $38 (38.20%), $34 (50%), and $31 (61.80%). Hence, pullback to $34-39 support zone could be an attractive swing trade entry area with upside potential back to $50. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $35 (previous resistance), then $25. The nearest Resistance Zone is $50.
Long
by altFINS
✴️ Avalanche | Long-Term Support Will Lead To Long-Term Growth Avalanche growth potential is huge, the 700% mapped on this chart can happen medium-term... I still have to see it to believe it though. Let's get into chart analysis... Please allow me to share with you what I see. Notice the gray space/line at the bottom of the chart, this marks the support level AVAXUSDT established back in mid-2021. There's additional data before it but it isn't relevant for this analysis, the main signal we will look at. This long-term, strong support level is tested in September and October 2023. ➖ AVAXUSDT briefly moves below it just to recover. ➖ The recovery is a very strong bullish signal. ✔️ As long as AVAXUSDT trades above 9.30, we can expect massive growth. ✔️ If it moves back below, then there can be additional correction before any major bullish action. Notice how volume rises above this level and this week is the fourth green session. It will be interesting to see the final results... How far up it goes and the All-Time High of course. 2024 Will be a very interesting year... Imagine all the positive news that needs to develop around Cryptocurrency to support what we are seeing on these charts. Namaste.
Long
by AlanSantana
12
The Avalanche Price Is at Risk of Losing Key SupportBINANCE:AVAXUSDT is retesting the lower barrier of a medium-term positive price channel that had formed on its daily chart over the past few weeks. This specific channel saw AVAX’s value rise from a low of $12.29 on Nov. 7 to a high of $48.27 on Dec. 23. Since reaching this peak, traders have started offloading their holdings in the cryptocurrency. This wave of sell pressure resulted in the formation of a bearish descending triangle on AVAX’s daily chart. Should this pattern be validated, the Avalanche price may drop below the base of the triangle pattern, which is situated at $37.15. A break below this significant price point may then be followed by the cryptocurrency’s value falling to the subsequent support level at $27 in the coming few days. This bearish thesis could be invalidated if the Avalanche price is able to close the next 2 daily candles above $37.15. In this alternative scenario, the crypto could enter into a short-term bullish move towards the $52.60 resistance level. Technicals Suggest AVAX’s Correction Is Not Over Yet Technical indicators on AVAX’s daily chart suggested that AVAX’s negative trend may continue in the upcoming 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators support a bearish outlook. The MACD line is breaking away below the MACD Signal line. In addition to this, the slope of the MACD Histogram is negative. These two technical flags are generally indicative of a continuation of a bearish trend. Sellers also seem to have the upper hand against buyers, as the RSI line is positioned below the RSI Simple Moving Average (SMA) line.
Short
by StevenWalgenbach
1
AVAXUSDT - CRYPTO TIPWelcome to my TradingView profile! In this article, we will embark on a journey together to explore the intriguing prospects of AVAXUSDT, guided by the fundamental principles of market structure and Fibonacci retracement. I invite you to join me in analyzing one of the most traded currency pairs. Our primary instruments will be market structure, the identification of the trend direction, and the application of Fibonacci levels. We will delve into how these factors can provide meaningful insights for making informed trading decisions. he inclusion of detailed charts and illustrations will aid in visualizing the discussed concepts. We will explore key Fibonacci retracement levels and how they interact with the overall market structure. This will be an informative article, focusing on understanding the market context and applying fundamental concepts of technical analysis. The goal is to provide a clear perspective and stimulate critical thinking within our trading community. If you find this analysis valuable, I encourage you to subscribe to stay updated on my latest posts and market analyses. This is just the beginning, and subscribing will allow you to be among the first to receive updates and trading ideas. Feel free to make any adjustments or let me know if there's anything specific you'd like to modify!
Long
by ICTBulletFX
AVAX: Pullback in UptrendTrade setup : Following a bullish break above $35 key level, price has reached our target of $50 resistance. However, price got very overbought (RSI ~ 82) and we’re seeing some profit taking. Now we wait for the right entry area (support). How far could it pull back? The nearest horizontal support is $35 and the nearest Fibonacci Retracement levels (possible support) are $38 (38.20%), $34 (50%), and $31 (61.80%). Hence, pullback to $34-38 support zone could be an attractive swing trade entry area with upside potential back to $50. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish). Support and Resistance : Nearest Support Zone is $35 (previous resistance), then $25. The nearest Resistance Zone is $50.
Long
by altFINS
AVAX: Overbought at ResistanceTrade setup : Following a bullish break above $35 key level, price has reached out target of $50 resistance. However, price got very overbought (RSI ~ 82) and we’re likely to see it pause here on some profit taking. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but extremely overbought. (MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance. Support and Resistance : Nearest Support Zone is $35 (previous resistance), then $25. The nearest Resistance Zone is $50.
Long
by altFINS