After breaking the key resistance zone at $26.60, AVAX surged strongly, reaching a high of $36.60 in one decisive leg up.
Now, the price is pulling back to confirm the breakout, approaching the previous resistance, which could now act as support.
This area represents a confluence zone, aligning with the rising trendline from June, and may serve as a strong accumulation level for bulls preparing for the next upward leg.
From a risk/reward perspective, this setup is also attractive, offering an estimated 1:4 ratio — a solid structure for a technical long entry.
I’m looking to buy around this zone, with expectations for a continuation toward new highs once confirmation appears. 🚀
Now, the price is pulling back to confirm the breakout, approaching the previous resistance, which could now act as support.
This area represents a confluence zone, aligning with the rising trendline from June, and may serve as a strong accumulation level for bulls preparing for the next upward leg.
From a risk/reward perspective, this setup is also attractive, offering an estimated 1:4 ratio — a solid structure for a technical long entry.
I’m looking to buy around this zone, with expectations for a continuation toward new highs once confirmation appears. 🚀
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.