TradeCityPro | AVAX: Watching Key Resistance in RWA Uptrend

👋 Welcome to TradeCity Pro!
In this analysis, I’ll be reviewing the AVAX coin — one of the popular RWA projects in crypto with a high market cap.

🔍 This coin currently has a market cap of $9.94 billion and ranks 14th on CoinMarketCap.

⏳ 4-Hour Timeframe
As shown on the 4-hour chart, there’s a clear ascending trendline that has been tested several times. There was also a fake breakout below the trendline, and now price is reacting to it once again.

⚡️ A resistance level has formed at 23.90, which the price has reacted to. Given the recent bounce off the trendline, the probability of breaking 23.90 has increased.

✔️ A break above 23.90 offers a potential long entry, though this isn’t the main long trigger. The target for this move would be 25.78. The main long position should be considered after a breakout above 25.78.

💥 The 25.78 zone is a key resistance level that marked the top of previous bullish legs, so breaking it could lead to a strong bullish trend.

🔽 On the flip side, if the price prints a lower high below 25.78 and moves back toward the trendline, the probability of breaking the trendline increases.

✨ If the trendline breaks, the confirmation trigger would be 22.10. A break below 22.10 opens a short setup, with the next support level located at 19.23.

📊 Currently, market volume is favoring the buyers. With renewed buying volume off the trendline, if this momentum continues, the bullish scenario becomes more likely.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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