AVAX/USDT – Bullish Opportunity with Market Recovery
Current Price: $17.67 (+1.3%)
24-Hour Trading Volume: $217 Million
Market Capitalization: $7.46 Billion
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Technical Indicators and Trend
- Relative Strength Index (RSI) at around 58, in a positive area without being overbought.
- The Exponential Moving Average EMA50 has been above EMA200 for a while, confirming the strength of the upward trend.
- Breaking the upward resistance at $17.20 encourages more buyers to push the price higher.
- The current momentum reflects a clear shift from selling to buying, with a clear bullish pressure.
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Fibonacci Levels from the Bottom ($16.50) to the Top ($18.50)
Fibonacci Ratio Price (USDT)
23.6% 16.88
38.2% 17.14
50.0% 17.50
61.8% 17.86
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Proposed Trading Strategy
- Initial entry of 40% of the size at $17.50 (50% Fibonacci support).
- Add 30% after confirming the daily close above $17.90.
- Stop loss below $17.00 to protect capital.
- Profit-taking targets:
1. $18.80 as a psychological level and short-term resistance.
2. $20.00 for the extended upward wave.
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Call to Followers
“
Igniting the upward spark… seize the opportunity and be part of the wave before it accelerates!”
$AVAX #Binance #CryptoAnalysis #DiversifyYourAssets #BSCProjectSpotlight #BSCProjectSpotlightDestacar