$AVAX 👩🏻💻#RIZzmas🎄🎅🏻
Quick analysis of AVAX/USDT 👩🏻💻✨
Current situation:
• The currency is moving in a clear ascending channel 🔼, and we saw a peak at 53.95 and then it returned a little to the level of 49.77.
• Technical situation:
• Prices touched the upper limit of the Bollinger Bands indicator, and this may mean that they need a little rest before continuing the rise 🧘♀️.
• The MACD indicator clearly shows weak upward momentum 😴.
• Stoch RSI is close to overbought (above 70), we may see a correction soon 🤔.
Important Support and Resistance Levels:
• First Support: 46.62 🔽
• Second Support: 38.20 🛡️
• First Resistance: 53.95 🚀
• Second Resistance: 55.00 🏔️
Suggested Entry and Exit Points:
• Ideal Entry Point: If the price drops to or near 46.62 🔑.
• Stop Loss: Below 46.00 to protect your capital 👀.
• Profit Targets:
1. 53.00 as a first target 💰
2. 55.00 as a second target 🎯
The currency is showing some selling pressure at the moment, but if it rebounds from the strong support level 46.62, it will be an excellent buying opportunity 🧞♂️🔥. However, if it breaks it, we may see a deeper decline. Follow with caution!
