AVAXUSD
Hello everyone,
today let's talk about AVAX.
AVAX has already made a 4x from its low at 8.5 USD in 2023. However, it is still far from ATH in 2021 so it still has room to grow.
AVAX has shown great respect for 20 USD price and has bounced of it wonderfully, creating a higher low both in price action and in RSI. Currently price is at 32 USD, a previous local high from end of July. If it breaks it to the upside next major resistance is at 55 USD.
RSI also broke over 50 - a bullish sign.
I expect it to go higher in this bull run, however in short term we might witness a pullback to previous level of 20 USD.
Also on AVAXBTC pair chart is coming close to strong base of 0.0003 (currently is around 20% above this).
I expect one of 2 scenarios:
- BTC pulls higher while AVAX stalls for a moment, bringing AVAXBTC to 0.0003 and then AVAX starts following, gaining on BTC.
- Both face a pullback, but AVAX bleeds more. AVAXBTC drops to 0.0003, AVAX drops to 20 USD and then they both bounce, AVAX gaining momentum against BTC.
There are also other possible scenarios, so do take my analysis with a grain of salt and DO YOUR DILLIGENCE.
My strategy:
I will be buying a small portion of AVAX at this price. I will also buy some more if we dip towards 20 USD. In total I will dedicate only a small portion of my portfolio to this pair.
If AVAX falls below 15 USD, I am out and will take a hit.
Good luck.
today let's talk about AVAX.
AVAX has already made a 4x from its low at 8.5 USD in 2023. However, it is still far from ATH in 2021 so it still has room to grow.
AVAX has shown great respect for 20 USD price and has bounced of it wonderfully, creating a higher low both in price action and in RSI. Currently price is at 32 USD, a previous local high from end of July. If it breaks it to the upside next major resistance is at 55 USD.
RSI also broke over 50 - a bullish sign.
I expect it to go higher in this bull run, however in short term we might witness a pullback to previous level of 20 USD.
Also on AVAXBTC pair chart is coming close to strong base of 0.0003 (currently is around 20% above this).
I expect one of 2 scenarios:
- BTC pulls higher while AVAX stalls for a moment, bringing AVAXBTC to 0.0003 and then AVAX starts following, gaining on BTC.
- Both face a pullback, but AVAX bleeds more. AVAXBTC drops to 0.0003, AVAX drops to 20 USD and then they both bounce, AVAX gaining momentum against BTC.
There are also other possible scenarios, so do take my analysis with a grain of salt and DO YOUR DILLIGENCE.
My strategy:
I will be buying a small portion of AVAX at this price. I will also buy some more if we dip towards 20 USD. In total I will dedicate only a small portion of my portfolio to this pair.
If AVAX falls below 15 USD, I am out and will take a hit.
Good luck.
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