๐ $AVAX
Avalanche (AVAX) is showing strong bullish potential as technical indicators and harmonic patterns align, hinting at an imminent upward move. With the price trading near $24.5, the charts reveal a buy setup supported by both momentum indicators and Fibonacci-based projections.
๐ Technical Chart Insights
On the main chart, AVAX price is consolidating above the 50-day SMA while holding above the 200-day SMA, signaling long-term trend stability. The sideways movement over the last few sessions appears to be forming a base near $24, which often precedes a bullish breakout.
The MACD indicator is flattening after multiple buy/sell crossovers, but importantly, the bearish momentum has weakened, suggesting bulls are regaining control. RSI remains neutral, giving the asset plenty of room to climb without immediate overbought pressure.
๐ ABCD Pattern Confirmation
The second chart reveals an ABCD Fibonacci pattern, identified just hours ago, pointing towards a bullish move. The projection suggests that after a small corrective dip, AVAX could climb into the $23.25 โ $28.30 range within the next five days. This aligns with previous resistance points on the chart and strengthens the buy outlook.
The harmonic structure adds confluence to the bullish case, highlighting that Fibonacci extensions and retracements are setting up potential target levels around $26 โ $28.30.
๐ฏ Trading Outlook
Buy Zone: $23.8 โ $24.5 (current range)
Stop-Loss: Below $22.8 (to protect against failed pattern)
Take Profit Levels:
First target: $26
Second target: $28.3
This creates a favorable risk-reward ratio for swing traders and medium-term investors looking for exposure in AVAX.
โ Conclusion
With the convergence of bullish signals from both moving averages and the ABCD Fibonacci pattern, Avalanche is positioned for a potential rally. The short-term consolidation near $24 may be the springboard for the next leg higher, with upside potential towards $28.
Traders should keep an eye on volume and price action over the next few sessionsโif momentum builds, this buy alert could play out quickly.
๐๐ Trade here $AVAX
