AVAXUSDT - FALSE BREAKDOWN
If the AVAX does not lose the real body outside the virtual bullish channel, it does not characterize the reversal of the channel. The extremely low RSI reinforces the false breakout.
Rising moving averages suggest that buyers are in charge, reinforced by the RSI. If the buyers do not give up too much from the current level, the probability of a break above $22.79 increases. The AVAX/USDT pair could then attempt a rally to 30.
On the contrary, if the price falls below $19.89, the bullish trough will be undone and the pair could hit the support line at 18.68.
Prognosis as AVALANCHE continues to partner ' In January, Avalanche partnered with Intain, a structured finance platform facilitating more than $5.5 billion in assets across 25+ businesses to manage its digital marketplace IntainMARKETS through the IntainMARKETS subnet.
Used here To plot the supports and resistances, Bollinger Bands which are best on days of high volatility.
Here are the supports and resistances:
Main support levels: 19.57 / 18.62
Main Resistance Levels: 20.99 / 22.12 / 22.79
If the AVAX does not lose the real body outside the virtual bullish channel, it does not characterize the reversal of the channel. The extremely low RSI reinforces the false breakout.
Rising moving averages suggest that buyers are in charge, reinforced by the RSI. If the buyers do not give up too much from the current level, the probability of a break above $22.79 increases. The AVAX/USDT pair could then attempt a rally to 30.
On the contrary, if the price falls below $19.89, the bullish trough will be undone and the pair could hit the support line at 18.68.
Prognosis as AVALANCHE continues to partner ' In January, Avalanche partnered with Intain, a structured finance platform facilitating more than $5.5 billion in assets across 25+ businesses to manage its digital marketplace IntainMARKETS through the IntainMARKETS subnet.
Used here To plot the supports and resistances, Bollinger Bands which are best on days of high volatility.
Here are the supports and resistances:
Main support levels: 19.57 / 18.62
Main Resistance Levels: 20.99 / 22.12 / 22.79
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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.
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.