Daily Technical Analysis for Currency #AVAX/USDT – Is it Time to Re-enter?
Current Price: 24.09 USDT (+5.29%)
Time Frame: Daily
Technical Outlook:
Strong bounce from support at 22.50 USDT after a correction from the previous peak of 26.84.
RSI at 61.36 = Good upward momentum with additional room for growth.
Bollinger Bands: Price has returned above the average, which may indicate the beginning of a rebound wave.
MACD: Still in the negative zone but there are signs of an upcoming bullish crossover.
Trading Volumes: Gradually increasing with the recent green candles, reflecting a return of trader interest.
Trading Strategy:
1. Entry Zones:
First Entry: Between 23.40 - 23.80 (in case of slight correction).
Confirmation Entry: After breaking 24.50 with a daily close.
2. Potential Targets:
TP1: 25.50
TP2: 26.80 (re-testing the peak)
TP3: 28.00 (if the last peak is broken)
3. Stop Loss:
Below 22.30 or daily close below MA20.
Technical Vision:
> Indicators suggest a regain of bullish control. If the positive momentum continues and nearby resistance is broken, we may witness a strong rally.
