Let's take a look at the following:
1-At the chart of weekly timeframe, it seems AVAX is creating a descending wedge pattern.
2-In the daily time frame, AVAX seems to be under resistance, which it has respected before.
3-In the Ranko chart, AVAX is below the moving average resistance of 40.
https://www.tradingview.com/x/wiNFgUgf/
AVAX' response to these two levels of resistance is crucial, and both are almost at the same price level
In case of a confirmed break-up of these two resistances, we can open a long position
If AVAX fails to break, a short position will be recommended
1-At the chart of weekly timeframe, it seems AVAX is creating a descending wedge pattern.
2-In the daily time frame, AVAX seems to be under resistance, which it has respected before.
3-In the Ranko chart, AVAX is below the moving average resistance of 40.
https://www.tradingview.com/x/wiNFgUgf/
AVAX' response to these two levels of resistance is crucial, and both are almost at the same price level
In case of a confirmed break-up of these two resistances, we can open a long position
If AVAX fails to break, a short position will be recommended
For more of my on-chain analyses, visit my CryptoQuant profile:
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
For more of my on-chain analyses, visit my CryptoQuant profile:
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.