Analyzing the AVA/USDT chart on the 2-hour timeframe, here are the key observations and potential next moves

Key Points to Consider:

  1. Strong Uptrend Spike:

    • The price surged significantly, reaching a high of 3.52 USDT.

    • This was followed by a sharp correction as profit-taking occurred.

  2. Support and Resistance Zones:

    • Resistance: The 2.40 USDT level is acting as a short-term resistance as seen near the current price. A breakout above this can push the price toward the next level (3.00 USDT and then 3.52 USDT).

    • Support: A key support zone lies near 1.44 USDT, where the price consolidated before the breakout.

  3. Volume:

    • There was significant buying volume during the upward move, but volume dropped during the consolidation phase. A new volume spike could signal another breakout.

  4. RSI (Relative Strength Index):

    • RSI showed a strong overbought condition during the peak but has cooled off to the midline (neutral zone).

    • RSI is now rising again, which may indicate growing bullish momentum

Potential Next Moves:

  1. Bullish Scenario:

    • If the price breaks above the 2.40 USDT resistance with rising volume, the next targets are:
      2.80–3.00 USDT

      3.52 USDT (recent high)

    Bearish Scenario:If the price fails to sustain above 2.40 USDT, it may pull back to support levels at:2.00 USDT

    1.44 USDT (strong base support)

Short-Term Strategy:

  • Monitor the price at the 2.40 USDT resistance.

  • Watch for a breakout confirmation (strong green candle with high volume).

  • Keep an eye on the RSI: if it crosses above 60, bullish momentum will likely continue.

  • $AVA