Avax is once again testing the 27 resistance level. The first attempt lasted over a week, and the second one held for a couple of days, but in both cases, Avax failed to break through. This time, however, it has stronger support from market-wide momentum.
Bitcoin has reached 120,000, Ethereum is posting sharp gains, and most notably, Chainlink (LINK) has already broken through its own resistance. Avax and LINK have shown a high degree of correlation, nearly 89% over the past two months. This strong relationship, while occasionally fluctuating, has been in place for several years.
A breakout for Avax may take time, but it now has more momentum and supportive conditions behind it. Still, as long as the 27 resistance holds, bulls should approach with caution before entering long positions.
Bitcoin has reached 120,000, Ethereum is posting sharp gains, and most notably, Chainlink (LINK) has already broken through its own resistance. Avax and LINK have shown a high degree of correlation, nearly 89% over the past two months. This strong relationship, while occasionally fluctuating, has been in place for several years.
A breakout for Avax may take time, but it now has more momentum and supportive conditions behind it. Still, as long as the 27 resistance holds, bulls should approach with caution before entering long positions.
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.
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.