Disclaimer
This technical analysis by no means, is a financial advice, Please do you own research.
The is a minor support in range of $70.51- $73.31 that if it breaks, we should monitor the middle of the trend line( I did not considered the ATH candle in my trend line as it was an emotional candle with high volume). Using Volume profile, it shows market has interest to trade $60-$70 which increase the chance of uptrend after a possible correction. Point of control has a correlation with our basis Donchain line.
If price drops from the parallel channel, it is likely that major support arear around $61 change the direction of the price.
As long as price does not fall below $50.96, trend is upward, unless it will form a double top pattern which is a bearish pattern (Less Likely to happen)
RSI+ and LMACD are showing a little bit of weakness as AVAX had a new ATH. With all these major demand and strong fundamental, it is mostly expected to be bullish and AVAX sees a new ATH.
Please share you thoughts on my analysis.
This technical analysis by no means, is a financial advice, Please do you own research.
The is a minor support in range of $70.51- $73.31 that if it breaks, we should monitor the middle of the trend line( I did not considered the ATH candle in my trend line as it was an emotional candle with high volume). Using Volume profile, it shows market has interest to trade $60-$70 which increase the chance of uptrend after a possible correction. Point of control has a correlation with our basis Donchain line.
If price drops from the parallel channel, it is likely that major support arear around $61 change the direction of the price.
As long as price does not fall below $50.96, trend is upward, unless it will form a double top pattern which is a bearish pattern (Less Likely to happen)
RSI+ and LMACD are showing a little bit of weakness as AVAX had a new ATH. With all these major demand and strong fundamental, it is mostly expected to be bullish and AVAX sees a new ATH.
Please share you thoughts on my analysis.
Nota
Next Major Resistance areas:$100
$110
$125
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.