Hey Binance Square fam! š Good news for Avalanche (AVAX) holders! An interesting analysis suggests that the bottom might be in, and we could be gearing up for a significant bullish run! Let's dive into the details! š¤©
AVAX Holding Strong Above Previous Lows! š”ļø
The analysis points out a crucial bullish sign: AVAX is currently trading above its August 2024 bottom low price. This indicates that the previous low has held as support, which is generally a positive signal for the price.
Double Bullish Signal: Higher Low Confirmed! ā ā
Adding to the optimism is the observation that AVAX/USDT produced a major low on the 10th of March trading session. Importantly, the current price action has formed a higher low compared to this March low. This is considered a double bullish signal, as both the August 2024 low and the March 2025 low appear to be holding as valid support.
Bulls Defending Key Levels! š
The analysis delves into the price action around these lows, noting that while the August 2024 low of $17.27 was briefly pierced, the session closed above this level. Similarly, in March, AVAX touched a low of $15.30 but closed significantly higher at $17.51. Subsequent price dips also saw strong buying pressure, with lows of $16.95 followed by closes at $18.5. This back-and-forth action clearly demonstrates the bulls stepping in to defend these key support levels.
Green Shoots After Red Sessions! š±
After four consecutive 2-day (48-hour) candle sessions closing red, the current session is showing green. This could be an early indication that the selling pressure is subsiding and buyers are regaining control.
Classic Behavior Before a Major Bull Run! š
According to the analysis, the activation of this long-term support is a classic behavior often seen before a significant bullish run. This suggests that the current price action could be the calm before a potential storm of upward movement.
The Market Cycle: Correction to Growth! š
The analysis outlines a typical market dynamic:
* Correction Unravels: A price correction gains momentum as it approaches its end.
* Strong Bullish Jump: Upon hitting the bottom, there's a strong reaction, causing a sudden and significant bullish jump.
* Short-Lived Correction: This initial jump is often followed by a short-term correction.
* Higher Low Formation: The short-term correction ends by forming a higher low compared to the absolute bottom.
* New Growth Phase: From this higher low, prices begin a new wave of growth.
The analysis suggests that AVAX is now entering this new growing phase!
Time-Based Chart and Long-Term Strategy! ā³
This analysis is based on a time-based chart, emphasizing the importance of timing in the market. The recommendation is to enter now, focusing on a long-term investment horizon of 6-8 months. The analyst believes that with patience and the right mindset, easy and big wins could be achievable.
Potential for 2025 All-Time High and Beyond! šš
For those curious about the potential upside, the analyst suggests visiting their profile for more details on the projected 2025 All-Time High targets and beyond for AVAX.
Thank You for Your Support! š
The analyst expresses gratitude for continued support and follows.
Key Takeaway: Bottom Potentially In, Long-Term Bullish Outlook! ā
This analysis presents a compelling case that Avalanche (AVAX) may have found its bottom and is poised for a significant bullish run over the coming months. The higher low formation, coupled with strong defense of previous support levels, suggests that buyers are gaining control.
Important Considerations: ā ļø
* Market Volatility: While the analysis is optimistic, remember that the cryptocurrency market is volatile, and unexpected events can impact price action.
* Do Your Own Research (DYOR): Always conduct your own thorough research and analysis before making any investment decisions.
* Long-Term Perspective: The analysis emphasizes a long-term holding strategy. Be prepared for potential short-term fluctuations.
* No Guarantees: There are no guarantees in trading, and market conditions can change.
What are your thoughts on Avalanche and this bullish analysis? Do you see similar signs on the charts? Share your insights and strategies in the comments below! š Let's discuss!
Happy holding and may your AVAX bags grow, Binance Square fam! šļøš°š