$AVAX /USDT Technical Analysis
Current Price: $47.46
24h High: $47.46
24h Low: $43.65
24h Volume: 5.84M AVAX / 271.70M USDT
Trend Analysis:
Short-Term Trend (15m to 1h): The price has recently experienced a sharp upward momentum, with a 7.13% increase in the last 24 hours, indicating strong bullish activity in the short term.
Medium-Term Trend (4h to 1D): AVAX/USDT is consolidating around the $47 region, showing signs of positive continuation, but it faces resistance near $47.50.
Resistance: The price faces immediate resistance at $47.50, which aligns with the recent 24h high.
Support: Immediate support is around $43.65, which is the recent low. If the price drops below this level, the bearish momentum could increase.
Trade Signals:
Bullish Scenario (if price remains above $43.65):
Target 1: $48.20
A breakout above $47.50 can push the price towards $48.20, which is a key resistance level from previous trends.
Target 2: $49.00
If momentum stays strong, $49 could be reached, aligning with the next resistance level formed by past price action.
Target 3: $50.00
A sustained break above $49.00 could push towards $50. This level is key as it aligns with the psychological resistance at the $50 mark.
Bearish Scenario (if price drops below $43.65):
Target 1: $42.00
A break below $43.65 may trigger further selling, with support at $42.00 from previous lows.
Target 2: $40.50
If bearish pressure continues, the next support level is near $40.50.
Target 3: $39.00
A deeper correction could bring the price closer to $39, where significant support is expected.
Momentum Analysis:
RSI (Relative Strength Index): If the RSI is above 70, the market could be overbought, and a pullback might happen. Below 30 would indicate oversold conditions and potential reversal opportunities.
MACD (Moving Average Convergence Divergence): A bullish crossover above the signal line would suggest momentum towards higher targets. If the MACD crosses below the signal line, it might indicate a bearish shift.