📊 Technical Analysis: Rejection Signals in AVAX/USDT 📉
In the most recent chart of the AVAX/USDT pair on the 4-hour timeframe, we have identified important signs of price rejection. Check out the details:
👉 Candles with Long Wicks:
In the upper region of the chart, we observe candles with longer upper wicks, especially the last red candle. This indicates that the price tried to rise, but faced strong selling pressure, signaling a possible rejection at the resistance.
👉 Indicators Showing Weakness:
The Stoch RSI and the regular RSI already point to signs of weakening in the bullish momentum.
The divergence between the rising price and the falling indicators reinforces the idea of a possible correction.
👉 Important Levels to Watch:
Nearby Supports: The moving averages (EMA 21 at $41.35 and EMA 50 at $39.62) could be testing areas if the price corrects.
Confirmation with the Next Candle: Keep an eye on the next close. If it continues to fall, this strengthens the rejection scenario.
⚠️ Conclusion:
The market may be showing signs of weakening bullishness, suggesting a possible correction. If you are in a position, consider adjusting your stop-loss to protect gains.
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