📊 Market Overview
Avalanche (AVAX) is currently trading at $24.95 USD, with a daily high of $25.46 USD and a low of $24.25 USD.
In the past week, AVAX has increased by about 14%, showing a significant recovery after hitting the bottom in early May.
📈 Technical Analysis
• Nearest resistance: $27.38 – $28.17
• Strong support: $22.00 – $23.00
• RSI (14): Currently neutral, indicating that the market is neither overbought nor oversold.
• MACD: The MACD line crosses above the signal line, indicating a buy signal.
• ADX: Rising, indicating that the current trend is strengthening.
The daily chart shows that AVAX is in an upward trend, with a 'Bullish Continuation' pattern signaling the potential for further price increases.
📰 Top News
• Price prediction: Some analysts predict that AVAX could reach $30 in the near future if the upward trend continues.
• Interest from large investors: AVAX has attracted attention from large investors, with significantly increased trading volume in recent days.
📊 Trading Strategy
Scenario 1 – Open Long Position
• Reason for entry: Price broke through the resistance level of $25.46 with increased trading volume, confirming the upward trend.
• Entry zone: $24.50 – $25.00
• Stop loss (SL): $23.00 (Below the nearest support)
• Take profit (TP): $27.50 – $28.00
• Success probability: 65% (Based on technical signals and strong inflow)
Scenario 2 – Open Short Position
• Reason for entry: Price failed to maintain above $25.46 and shows signs of a bearish reversal.
• Entry zone: $25.50 – $26.00
• Stop loss (SL): $27.00 (Above the nearest resistance)
• Take profit (TP): $24.00 – $23.00
• Success probability: 55% (Based on the likelihood of a correction after a strong rally)
Note: The market is in an excited state; risk management needs to be tight and closely monitor technical signals.
🔗 Trade AVAX
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