🔷️ On the weekly timeframe, #AVAX is showing a strong technical structure. A clear double bottom formation has emerged, and if it continues to play out, the technical resistance levels marked by the yellow lines (based on Fibonacci levels) may be monitored.
The horizontal resistance at the green line is particularly critical. Weekly closes above this level could serve as a strong technical signal for further upward momentum.
📊 Technical Indicators:
✅ MACD: About to make a bullish crossover on the weekly chart; indicating strengthening buyer momentum.
✅ RSI (~55): Near the upper neutral zone and turning upward, supporting bullish potential.
⚠️ ADX (~23): Still below 25, showing a weak trend, but gradually increasing; a move above 25 would confirm trend strength.
✅ Volume: Increasing in recent weeks, indicating renewed buying interest.
📌 While the technical setup is positive, market conditions can be volatile. For the continuation of this potential breakout, resistance zones and indicator confirmations should be closely monitored.
⚠️ This content is not investment advice. Crypto assets carry high risk; please do your own research before making trading decisions.
