$AVAX - long term

5 juin 2021Avalanche ( AVAX ) - has been around for just a year, but has a very strong team lead by Emin Gün Sirer, who notably discovered a key flaw in BTC - 'Selfish-mining'.

Avalanche's is building an entirely new system of protocols, with an aim to raise entire ecosystems around it. This project holds a lot of promise fundamentals wise.

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To the technicals:

Some coin charts just match up beautifully with fib levels.

Here the Trend based fib extension tool drawn between price levels indicated by blue markers, has its Fib 4.2 level near perfectly line up with the cycle top at $61.
Other fib levels also mark key zones, especially the ranging between Fib 1 & Fib 2.618.

Then the Fib retracement tool applied from cycle top ($61) to cycle bottom at ~$12.2 has some of its levels match up to the other Fib indicator's. It's cycle projection top ( Fib 4.23) comes at a whopping 1000% from current level at $209.

Although this is a new coin, I've done my best to draw a parallel channel that touches key levels - also notice how the median line perfectly matches with the 24th march to 17th april price movement; the price then corrects and bounces up - only to be held back this same median line. Such confirmations re affirm the parallel channel's reliability.

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The projections although seem to align, are to be taken with a grain of salt as this is new coin with very less pricing data. Only reason to enter, is understanding the potential of the team's credibility and getting the coin at a discount.

Note: The price may fall further, laddering would be good for long term holding.