AVAX bounced off the upper edge of our blue Target Zone (between $50.42 and $41.83). Although the low could already be in place, we still primarily assume a deeper dive into our Zone before the low of the blue wave (ii) is set. Traders could use the range to open long positions. To minimize risk, they could place stop orders about one percent below the lower end of the range. A drop below the Zone would trigger our alternative scenario (27%), which still sees the price in the turquoise-colored wave alt.2. This move would reach the same-colored Target Zone (between $29.30 and $17.48).
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.