๐๏ธ๐ฐ Avalanche (AVAX) Weekend Analysis
๐ Technical Overview:
Support Test: AVAX tested the bottom of the range resistance level at approximately $38.50.
Support Level: $38.50 now functioning as a support level.
Plan: Consider entering a spot long trade if there is another test of the support level.
๐ก Profit-Taking Strategy:
Target Resistance: Aim to target the next resistance area between $50.00 and $52.50.
Stop-Loss Placement: Well-defined stop-loss set just below the minor support level at $36.00.
Risk Management: Protect the trade from significant downturns and keep losses within acceptable limits.
๐๐ผ Note: Stay vigilant for potential developments that might impact AVAX's price movement. ๐๐ก #Avalanche #AVAX #TechnicalAnalysis ๐ป๐
Support Test: AVAX tested the bottom of the range resistance level at approximately $38.50.
Support Level: $38.50 now functioning as a support level.
Plan: Consider entering a spot long trade if there is another test of the support level.
๐ก Profit-Taking Strategy:
Target Resistance: Aim to target the next resistance area between $50.00 and $52.50.
Stop-Loss Placement: Well-defined stop-loss set just below the minor support level at $36.00.
Risk Management: Protect the trade from significant downturns and keep losses within acceptable limits.
๐๐ผ Note: Stay vigilant for potential developments that might impact AVAX's price movement. ๐๐ก #Avalanche #AVAX #TechnicalAnalysis ๐ป๐
