AVAX Technical Analysis: Potential Downtrend and Strategic Entry Points
Avax is currently retesting a confluence of key resistance levels, including the daily resistance line, the lower border of a parallel channel, and the 0.236 Fibonacci retracement level. This confluence suggests a strong possibility of a downtrend reversal.
Risk Management:
Capital Allocation: Limiting position size to 1% of your capital helps contain potential losses.
Leverage: Employing 2x leverage magnifies potential returns but also amplifies potential losses. Utilize this strategy cautiously.
Laddering strategy: If the price breaks above this level, you can ladder in at higher levels marked on this chart.
