🔥 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!