technical analysis for $AVA /USDT, along with trade signals and three target levels:
Current Price: $1.94
24h High: $2.98
24h Low: $0.73
Trend: The price has seen a strong bullish move recently, with a 157.91% increase. However, the price is experiencing some volatility as it has dropped 16.02% from its 24-hour high of $2.98.
Key Support and Resistance Levels:
Support Level: $0.73 (24h Low)
Resistance Level: $2.98 (24h High)
Moving Averages:
50-day Moving Average: Suggests the price is currently above this level, indicating an upward momentum.
200-day Moving Average: A critical level that could act as strong support if the price retraces.
RSI (Relative Strength Index):
Currently showing signs of being overbought (around 70), indicating potential for a pullback before further upward movement.
MACD (Moving Average Convergence Divergence):
Positive MACD crossover suggests a continuation of bullish momentum, but a slight divergence from the price suggests caution near current levels.
Trade Signals:
Buy Signal: If the price breaks above $2.00, confirming that the bullish trend will continue. A potential entry point at $1.95 - $2.00.
Sell Signal: If the price falls below $1.70, indicating a reversal and potential for a deeper retracement toward the $1.50 level.
Target Levels:
1. Target 1: $2.20 (Next resistance zone - Conservative target)
2. Target 2: $2.50 (Mid-range target - Potential resistance point based on historical price action)
3. Target 3: $2.80 (Final resistance zone before a possible pullback)
Momentum Analysis:
Bullish Momentum: The market has been strongly bullish with a sharp rise in price. However, with the RSI showing overbought conditions, there may be a temporary pullback before the price moves further up.
Bearish Momentum: Watch for a break below $1.70. If the price fails to hold above this level, there may be a deeper pullback towards $1.50 or lower.
Trade Recommendation:
Short-term traders may consider buying near $1.95 with a stop-loss just below $1.70 and targeting $2.20 as the first level
