The AVAXUSDT analysis is looking bullish right now!
The technical analysis gauge displays a strong buy signal for the selected timeframe, based on popular indicators like Moving Averages, Oscillators, and Pivots.
Key Levels to Watch:
- Support Levels: $28.16, $22.82
- Resistance Levels: $41.19, $60.71
Some analysts believe that AVAX has the potential to go much higher, with conservative targets being easily reachable with the proper macro factors. Others see AVAX as one of the most well-known coins, backed by strong fundamentals, and expect it to perform well during the 2024-2025 bull run.
Trade Ideas:
- Consider buying AVAX if it breaks out above $38, targeting $51
- Look for a retracement to the weekly demand zone and the maximum discounted area, with a possible retest of the broken bearish trendline
- Some analysts expect a retracement to $28.16, presenting an opportunity for a rally thereafter
Market Sentiment:
The overall market sentiment is bullish, with increasing buying interest and a potential gain of 93.17% from the current level ². However, traders should be cautious of potential pullbacks and consolidation phases as the price approaches resistance zones.
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