$AVAX
📌 Market Snapshot
Current Price: ~$22.82 (up ~6.3% over 24 h)
24‑h Volume: Around $740–880 M
Market Cap: ~$9.6 B, ranking around #17–20
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🔧 Technical Overview
Trend & Structure:
Broke out above key resistance ~$20.50–$20.80, which is now acting as strong support .
A symmetrical triangle (or falling wedge on weekly chart) is resolving upward—classical bullish formation targeting significant upside .
Indicators:
Investing.com rates AVAX ‘Strong Buy’ on hourly to daily charts; MAs and oscillators are bullish .
CCN confirms bullish momentum with positive RSI/MACD divergence, reinforcing support near ~$20.50 .
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🎯 Key Levels & Trade Strategy
Level Price Role
Support Zone $20.50 – $21.00 Base for bullish trend, key pivot
Aggressive Entry $22.50 – $22.82 Current price area
Confirmation Entry >$23.50 Breakout above triangle/wedge setup
Target 1 (T1) $25.00 Short‑term upside
Target 2 (T2) $28.00 – $30.00 Broader breakout zone toward previous highs
Stop‑Loss $21.80 Below support zone
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🧭 Trade Plan
1. Entry Options:
Aggressive: Enter near current ~$22.80 with SL at $21.80.
Conservative: Wait for breakout above $23.50 with strong volume.
2. Profit Strategy:
Partial exit at T1 ($25.00), trail stop to breakeven.
Hold rest aiming for T2 ($28.00–$30.00) if momentum continues.
3. Risk Management:
Risk ~1–2% per trade.
Watch volume—breakout needs confirmation.
Monitor RSI >70 (overbought) and MACD divergence as reversal signals.
4. Caution Triggers:
Drop below $21.80 could indicate false breakout or deeper retracement to $20.
Triangle breakout failure without volume can invalidate setup.