AVAX has recently broke out of a pennant. Zoom out for a better look at said pennant.
The break-out was quite intense, with AVAX shooting up more than 40% in just a few hours. After a small period bearish pressure, it appears that AVAX has found a local low around 29 today. In the last few hours AVAX has shot up again and demolished the $30 resistance with great ease. Since bullish price action is very strong at the moment, I'm confident it will last for a while longer.
Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.
On the chart Iâve marked two potential areas of resistance, R1 and R2. These areas placed at $40 and $45 respectively. Do your own due diligence.
Happy trading!
The break-out was quite intense, with AVAX shooting up more than 40% in just a few hours. After a small period bearish pressure, it appears that AVAX has found a local low around 29 today. In the last few hours AVAX has shot up again and demolished the $30 resistance with great ease. Since bullish price action is very strong at the moment, I'm confident it will last for a while longer.
Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.
On the chart Iâve marked two potential areas of resistance, R1 and R2. These areas placed at $40 and $45 respectively. Do your own due diligence.
Happy trading!
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