$AVAX /USDT (Avalanche) on a 1-week (1W) chart from Bybit. The data indicates that AVAX is experiencing substantial volatility and potential significant price moves based on Fibonacci retracement levels.

🔍 Key Price Levels and Targets

Target TypePricePotential Return3.618 Fibonacci1257.301Potential breakout2.618 Fibonacci257.30Extreme bullish target1.618 Fibonacci167.31560% potential returnResistance Levels140.00, 162.31Watch for price reactionSupport Levels9.50, 8.62, 7.70Buy near support zonesLow6.30Potential floor

🧠 Analysis and Strategy

Fibonacci Extensions: The price is showing strong resistance around 167.31 (1.618 level), with an extended target at 257.30 (2.618 level). The 3.618 Fibonacci target of 1257.301 seems like an extreme bullish scenario, but it's good to monitor if the price reaches these zones.

Key Support Zones: The 9.50–8.62 range is critical as potential support. If the price stays above this level, it can consolidate and start moving towards the higher Fibonacci levels.

Risk and Reward:

If price holds above 9.50, the risk-to-reward could be favorable with possible returns as high as 560%.

If price drops below 7.70, this might be a bearish signal and could indicate further downside.

🚀 Strategy Suggestions

Entry Zone: Buy near $9.50–8.62 if the price holds as support.

Take-Profit Targets:

First at $140.00 (resistance).

Secondary target at $167.31 (1.618 Fibonacci).

Potential extreme target at $257.30 (2.618 Fibonacci).

Would you like a more detailed analysis or help setting up your technical indicators like RSI or MACD?

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