AVAXUSD Don't get excited until it breaks these levels

6 בדצמ׳ 2022

Avalanche is having a good stretch in December but we can't lift our hopes yet as it remains below the 1D MA50 [blue line]. Even if it breaks it, it will still be contained inside the Falling Wedge of June. Our signal to enter AVAXUSD will be when it breaks the 1D MA200 [orange line], which is untouched since April 10th. The bullish target will be $30.00.

Until this happen, with the RSI pattern looking increasingly like the last 1D MA50 rejection, it is more likely to see the Falling Wedge break downwards and make a new low on the 1.236 Fibonacci at $9.00.

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