📈 $AVAX /USDT: Is a Breakout Above $9.70 Imminent?
Current Price: 9.35 (+3.43%)
📍 Entry Zone: 9.15 – 9.25 (Looking for support near the MA(25) and MA(99))
🛑 Stop Loss: 8.85 (Strategic exit if price breaks below the recent local low of 8.92)
🎯 Take Profit Targets:
• TP1: 9.70 (Current 24h High – Immediate major resistance)
• TP2: 10.20 (Psychological double-digit milestone)
• TP3: 11.50 (Structural target for the next bullish leg)
📊 Technical Analysis:
On the 1-hour chart, Avalanche ($AVAX) has formed a solid "U-shaped" recovery. After bottoming out at 8.92, it has successfully reclaimed the MA(25) (9.24) and MA(99) (9.15). The price is currently hovering just below the MA(7) (9.36). While the MACD shows a temporary cooling of momentum (histogram at -0.00), the fact that it is holding above the longer-term moving averages suggests a bullish underlying trend.
⚠️ Risk Tip:
The $9.70 level acted as a sharp rejection point earlier today. For a sustained move higher, we need to see a 1-hour candle close above 9.40 with increasing volume. 24h volume of $26.62M USDT is decent, but a spike toward $50M would confirm the breakout.
🔥 Will AVAX break back into the double digits this week, or is the $9.70 resistance too strong? Let me know your strategy! 👇
#AVAX #Avalanche #BinanceSquare #TechnicalAnalysis #Write2Earn
