$AVAX AVAX/USDT (H4) – What are the notable points on the chart?

- Trading Volume: Volume has slightly increased compared to previous sessions, indicating that buying pressure is stronger, especially as the price has just broken into a new peak.

- Bollinger Bands: The price is close to the upper band (23.20), signaling a strong upward trend. However, being so close to the upper band may lead to a correction, so it needs careful monitoring.

- MACD: The MACD line is below the signal line, and the gap is narrowing, indicating that the downward momentum is weakening and may soon reverse.

- RSI: RSI(14) is at 58.23, indicating that buying pressure is stronger. An RSI above 50 typically suggests that the price may continue to rise, but if it approaches 70, one should be cautious of an overbought region.

Price levels to watch:

- Support: The range of 20.00-20.50 USDT, near the previous low (20.27).

- Resistance: 23.20, right at the upper Bollinger Bands.

Conclusion – Buy or wait?

AVAX is in an upward trend, volume is slightly increasing, and both MACD and RSI support the upward momentum. One might wait for the price to correct to the 20.00-20.50 USDT range; if the RSI drops below 50 and the MACD crosses above the signal line, then consider entering a position. It is advisable to set a stop loss below 19.80 USDT to protect capital. This is just my perspective; you should decide for yourself before entering a trade.