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In this analysis, I will review AVAX, one of the Layer 1 and RWA coins with a market cap of $11.98 billion, ranked 16th on CoinMarketCap.
⏳ 4-Hour Timeframe
On the 4-hour timeframe, AVAX has a strong Maker Buyer zone that has been tested multiple times and provided support.
⭐ On the other hand, after creating two equal peaks at 35.20, the next peak was lower, at 31.37.
✅ This indicates that the sellers' strength in the market is greater than the buyers' strength, but buyers also have a significant support level, which has been effective so far in preventing further price decline.
🧩 Since Bitcoin's trend is entirely bullish, and there’s a high chance of Bitcoin's dominance decreasing, altcoins may experience an upward move. So, I am inclined to open a long position on this coin.
📊 The first trigger for a long position is the break of 31.37. The main trigger to start the coin's primary trend will be 35.20.
💥 If you believe the market will move downward and are looking for a short position, breaking the support level I marked could lead to a price decline towards 25.42.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I will review AVAX, one of the Layer 1 and RWA coins with a market cap of $11.98 billion, ranked 16th on CoinMarketCap.
⏳ 4-Hour Timeframe
On the 4-hour timeframe, AVAX has a strong Maker Buyer zone that has been tested multiple times and provided support.
⭐ On the other hand, after creating two equal peaks at 35.20, the next peak was lower, at 31.37.
✅ This indicates that the sellers' strength in the market is greater than the buyers' strength, but buyers also have a significant support level, which has been effective so far in preventing further price decline.
🧩 Since Bitcoin's trend is entirely bullish, and there’s a high chance of Bitcoin's dominance decreasing, altcoins may experience an upward move. So, I am inclined to open a long position on this coin.
📊 The first trigger for a long position is the break of 31.37. The main trigger to start the coin's primary trend will be 35.20.
💥 If you believe the market will move downward and are looking for a short position, breaking the support level I marked could lead to a price decline towards 25.42.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.