20.12.24 - is AVAX ready for the party?

📈🚀 Bullish or Bearish on AVAX? Let’s Dive In! 🌟

Hey everyone! 🙌 Here’s my take on AVAX – a crypto with big potential but at a critical juncture!

Key Levels to Watch:
🔼 Resistance Levels:

$50.27 (0.618): Immediate resistance, bulls need to conquer this! 🏔️
$65.39: A major swing high to aim for. 🏆
$92.13 (0.382): Larger Fibonacci retracement – the moon’s next stop? 🚀
🔽 Support Levels:

$37.49 (0.786): Closest support, critical to hold! 🛡️
$23.97 (0.886): The key level below if $37.49 breaks.
$8.55: Historical low – long-term support in case things get messy. 📉
What’s Happening Now?
The chart still looks bearish on the macro level. AVAX has yet to reclaim critical levels. Breaking below $37.49 could send it spiraling toward $23.97, but holding this support and breaking above $50.27 would be a game-changer for bullish momentum! 📈🔥

Global Perspective:
🌎 Bearish Signs: The recent rally hit resistance hard, and failure to hold support suggests the downtrend may continue.
🌟 Bullish Hope: A decisive breakout above $50.27 could spark a rally, first targeting $65.39 and then reaching for $92.13!

It’s a pivotal moment for AVAX! Will it hold the line and climb, or crumble under pressure? Only the market can decide of course.

I would say, odds are 60/40 for bullish scenario! I wish it goes up to the sky and break previous highs!

#Trading #AVAX #Crypto #SupportAndResistance #Investing

Share your thoughts below – bullish, bearish, or just watching? Let’s see where this journey takes us! 🤑💎