As $AVAX remains under watch of @Avalanche_CN , @DAO Labs and the people of the #SocialMining network, technical indicators still remain bullish. Confirmation of altered previous resistance to support has come in the form of daily closing green, which signals high levels of buying pressure have taken full control.
This is a healthy structure, as it is indicated with a series of higher highs and higher lows that have been labeled as a healthy trend continuation. Assuming that the bullish force is strong enough, it may lead the $AVAX to the upper orange zone again where it may define the future of price dynamics. In the disclosure of such situations, there are usually crucial moments when there are not unpleasant macroeconomic events or major changes in tone.
Nonetheless, one has to be alert. In the event that negative catalysts develop, retracement moves are feasible to levels of support and these moves could be viewed as not part and parcel of a reversal in the trend but a regular correction in the uptrend. In the context of Social Mining within the #AvalancheHub , participants remain in a mode of analyzing such developments with the future in mind, on structural changes as opposed to short-term noise. At the time of writing, the structure of the chart gives preference to continuation over correction, which should be confirmed in the upcoming days.
