Today, AVAX has finally broken out of the triangle in which it has residing for over two weeks. The current 4H candle is much bigger than any of the previous recent candles that we've seen on the chart, indicating a lot of volume inflow. The inflow combined with the break out of the triangle indicate that a new bullish period has started for this coin.
On the chart, I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
Great setup! looks like people took supply at first resistance! Nice!!
Babenski
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keep up the good work
FXtrades-gp
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Very nice setup , I can see the pattern worked so good! Well done 👍
tmyerskerry
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Hopefully it can bounce off that trendline with the support of the 50ma. Pattern doesn't look too dissimilar to GRTUSDT a few days ago. Looking at fib levels 1.272 and 1.618 - that would give targets of $18 and $22.
FieryTrading
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@tmyerskerry, Good catch. I'm very interested to see whether we manage to reach R2!