🔥 AVAX Strong Reversal: Channel Analysis
A while ago I made an analysis on AVAX and the bullish channel it was trading in.
After hitting the $150 area, AVAX saw two days of strong losses, which was to be expected after seeing a 2.5x in a matter of a few weeks.
As of today, it seems that there's a rotation in place. Coins which have been mooning for a while are seeing minor sell-offs while previously bearish coins are picking up. This might indicate that there's more pain to come for AVAX.
in that case, I'm looking at the support area for a potential reversal. This support area is also placed around the area where I expect the price to reach the channel's support, which would mean an even bigger probability for a reversal. Target placed around the current ATH, $150.
Happy trading!
After hitting the $150 area, AVAX saw two days of strong losses, which was to be expected after seeing a 2.5x in a matter of a few weeks.
As of today, it seems that there's a rotation in place. Coins which have been mooning for a while are seeing minor sell-offs while previously bearish coins are picking up. This might indicate that there's more pain to come for AVAX.
in that case, I'm looking at the support area for a potential reversal. This support area is also placed around the area where I expect the price to reach the channel's support, which would mean an even bigger probability for a reversal. Target placed around the current ATH, $150.
Happy trading!
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