Overall market sentiments are the most influential factor on $AVAX price direction. After bursting through immediate support the asset is now approaching resistance levels at which previous price movements have continually formed a strident top. A change of this barrier from resistance to support might increase upward activity and ready the way for a stronger trend.
However, the threat of reversal is well printed on the pattern of the chart. The possibility of market sentiment decline may result in retracement into supportive price territory. The identification of such zones could permit systematic cost reduction on entry. This #AvalancheHub community, especially those operating with the #SocialMining methodologies, should look at such threshold levels and provide their analytical insights in the form of scenario analysis. By getting out of the headline chase, participants can come to an understanding by centralizing and interpreting technical dynamics – the ways price movements impact sustained engagement. There is scope to teach, to critically re-examine ideas and to develop the autonomy and accuracy of current analysis with each such change in the system.
