Coin Name: $AVAX
Position: LONG
Entry Price: 20.780
On the 30-minute timeframe, AVAX is forming a falling wedge pattern, which is typically a bullish setup. The price is currently approaching the lower trendline of the wedge, suggesting a possible bounce. Additionally, RSI was recently rejected from the midline, indicating potential for renewed momentum near support. If the lower trendline holds, it could offer a long opportunity—provided proper risk management is applied and taken at your own discretion.
The liquidity heatmap for AVAX shows significant liquidity on both the upside and downside. It's likely that AVAX will first move lower to clear the downside liquidity before reversing to target the liquidity above. This would align with typical market behavior of sweeping key liquidity zones before a directional move.
On the 1-hour timeframe, TOTAL3 is forming a descending triangle pattern. While this setup can be bearish, the support level appears to be holding well. If this support continues to hold, there's potential for a bullish breakout to the upside.
Leverage: 4X
Targets:
1st TP 21.70
2nd TP 22.66
3rd TP 24.50
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$AVAX
