AVAX/USDT recovery to 120.00 expected in a first step
Avalanche - AVAX is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.
Avalanche Supply
Circulating Supply = 245 277 496 AVAX
Total Supply = 395 891 290 AVAX
Context
Avalanche is a hot trendy network platform which introduce the token in october 2020 before progressing fast towards the 54.00 USDT area and evolving in a trading range the first semester of 2021.
The AVAX price action during sept/oct 2021 confirmed the bullish breakout from the consolidation phase with a pull back on the former resistance (54) - The consolidation ended in January 2022 on the same level which graphicaly speaking a strong validation
The long term logic (Elliot / Harmonic proportion) lean towards a construction of the wave C/ or III/ which providing a Strategic perspective target towards 170.00 only after at least surpassed the 120.00 tactical in daily close.
Tactical View - 1 to 3 Weeks
Technical elements (EMA21/55/89) are all surpassed acting as support at 79,50/84 (entry level in case of dips) and the RSI indicator is also reaching the positive area above 50% providing a clear bullish signal.
As long as Key Tactical Support remains valide at 54,00 in daily close a further bullish move in extension is expected towards at least 104,00 and 120,00
Only a break below 54,00 will jeopardize the actual bullish picture opening an alternative bearish potential towards the Strategic Key Support.
We add AVAX at 74,90 in the AKT Portfolio
Enjoy
Avalanche - AVAX is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.
Avalanche Supply
Circulating Supply = 245 277 496 AVAX
Total Supply = 395 891 290 AVAX
Context
Avalanche is a hot trendy network platform which introduce the token in october 2020 before progressing fast towards the 54.00 USDT area and evolving in a trading range the first semester of 2021.
The AVAX price action during sept/oct 2021 confirmed the bullish breakout from the consolidation phase with a pull back on the former resistance (54) - The consolidation ended in January 2022 on the same level which graphicaly speaking a strong validation
The long term logic (Elliot / Harmonic proportion) lean towards a construction of the wave C/ or III/ which providing a Strategic perspective target towards 170.00 only after at least surpassed the 120.00 tactical in daily close.
Tactical View - 1 to 3 Weeks
Technical elements (EMA21/55/89) are all surpassed acting as support at 79,50/84 (entry level in case of dips) and the RSI indicator is also reaching the positive area above 50% providing a clear bullish signal.
As long as Key Tactical Support remains valide at 54,00 in daily close a further bullish move in extension is expected towards at least 104,00 and 120,00
Only a break below 54,00 will jeopardize the actual bullish picture opening an alternative bearish potential towards the Strategic Key Support.
We add AVAX at 74,90 in the AKT Portfolio
Enjoy
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AVAX reached 104,00New update is coming soon
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
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.
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
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.