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.

$AVAX #AVAX✅ #avaxusdt #BTC #write2ear
#TrendingTopic."

#OpenfabricAI finds applications across diverse domains, including healthcare, finance, manufacturing, agriculture, and smart cities, empowering organizations to derive actionable insights from their data.
As technology continues to evolve, OpenfabricAI remains at the forefront of innovation, poised to address emerging challenges and opportunities in the realm of data analytics and artificial intelligence.

#Crypto #binance #write2ear #OpenfabricAI

🚀 Join the movement! OpenFebric Network is revolutionizing trading and writing, empowering you to #trade2earn and #write2ear n like never before. Don't miss out on the future of finance! #TrendingTopic #OFN #binancesquare