Successful #Avaxusdt Analysis Reaches Target Profit
$AVAX
On July 14, a technical analysis was conducted on Avalanche (AVAX), predicting a potential bullish move if the price could break the key resistance level at $26.70. As of July 22, this analysis has met expectations with the price successfully reaching the target profit levels.
Previous Analysis Summary:
Daily Chart: AVAX was trading within a descending channel, with the 200 SMA positioned around $30.33. Reduced selling pressure suggested potential consolidation around the $25 support level.4-Hour Chart: AVAX displayed a descending channel pattern with resistance at $26.65. A breakout above this level was expected to indicate a trend reversal and short-term upside towards the $28 area.
The price of AVAX has successfully broken the $26.70 resistance level, reaching the predicted targets and confirming the short-term bullish trend. The updated chart shows AVAX trading at $32.10, reflecting the accuracy of the previous analysis and the potential for continued upside movement.
This successful prediction demonstrates the effectiveness of the technical analysis conducted, providing traders with profitable opportunities based on informed decision-making. Always remain cautious of market volatility and utilize stop-loss orders to manage risk.
Congratulations to everyone who hit their profit targets! Your success is a testament to solid analysis and smart trading decisions.
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