Based on the $AVAX /USDT 1-hour chart provided:🔥

1. Current Market Overview:

$AVAX is trading at $44.17 with a 24-hour high of $45.05 and a low of $42.03. The price shows a modest 4.13% gain over 24 hours, indicating bullish momentum over the short term.

2. Trend Analysis:

The chart indicates a series of higher highs and higher lows, signaling an uptrend. However, the resistance at $45.00 is acting as a psychological barrier.

3. Entry for Long:

If the price breaks above $45.05 with strong volume, it confirms the continuation of the uptrend. A long position can be initiated at $45.10.

Stop Loss: Place a stop loss at $43.50 to manage risk.

Target: Aim for a target of $47.00 in the short term, with a secondary target of $49.00.

4. Entry for Short: If the price fails to break $45.05 and drops below $43.80 with increasing selling pressure, a short position could be considered.

Stop Loss: Place a stop loss at $45.20 to minimize potential losses.

Target: Set a target of $42.00, with an extended target at $40.50.

5. Additional Insights: Observe the volume and RSI indicators for confirmation of trend strength. A divergence in RSI may signal a reversal.

Patience is key—wait for confirmation of breakout or breakdown before taking a position. Keep risk-to-reward ratio favorable at all times.

#AVAX✈️ #BTC100KTrumpEffect #BinanceMegadropSolv #NonFarmPayrollsImpact