AVAX/USDT: Recovery to 120.00 expected in a first step (Update view) - For AKTIO (akt.io) users
Avalanche - AVAX is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.
Previous analysis - 11/02/2022 :
https://www.tradingview.website/chart/AVAXUSDT/D7ja9gOI-AVAX-USDT-recovery-to-120-00-expected-in-a-first-step/
Context
Avalanche is a hot trendy network platform which introduce the token in october 2020 before progressing fast towards the 54.00 USDT area and evolving in a trading range the first semester of 2021.
The AVAX price action during sept/oct 2021 confirmed the bullish breakout from the consolidation phase with a pull back on the former resistance (54) - The consolidation ended in January 2022 on the same level which graphically speaking caling for a strong validation
The long term logic ( Elliot / Harmonic proportion) lean towards a construction of the wave C or (3) which providing a Strategic perspective target towards 170.00 only after at least surpassed the 120.00 tactical in daily close.
After having reached the first intermediate resistance at 104.00 a ''setback before rise'' scenario is likely.
Tactical View - 1 to 3 Weeks
Technical elements (EMA21/55/89) are all surpassed acting as support at 82 area (entry level in case of dips) and the RSI indicator is also reaching the positive area above 50% providing a clear bullish signal (Pullback potential).
As long as Key Tactical Support remains valide at 68,30 in daily close a further bullish move in extension is expected towards at least 120,00 - then a confirmation of the upside breakout in daily close will be necessary to open 170
Only a break below 65,30 will jeopardize the actual bullish picture opening an alternative bearish potential towards the Strategic Key Support.
We add AVAX at 74,90 in the AKT Portfolio (check giveaway and special golden ticket to get aktio coin limited !!! in signature below)
Enjoy my friend
Avalanche - AVAX is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.
Previous analysis - 11/02/2022 :
https://www.tradingview.website/chart/AVAXUSDT/D7ja9gOI-AVAX-USDT-recovery-to-120-00-expected-in-a-first-step/
Context
Avalanche is a hot trendy network platform which introduce the token in october 2020 before progressing fast towards the 54.00 USDT area and evolving in a trading range the first semester of 2021.
The AVAX price action during sept/oct 2021 confirmed the bullish breakout from the consolidation phase with a pull back on the former resistance (54) - The consolidation ended in January 2022 on the same level which graphically speaking caling for a strong validation
The long term logic ( Elliot / Harmonic proportion) lean towards a construction of the wave C or (3) which providing a Strategic perspective target towards 170.00 only after at least surpassed the 120.00 tactical in daily close.
After having reached the first intermediate resistance at 104.00 a ''setback before rise'' scenario is likely.
Tactical View - 1 to 3 Weeks
Technical elements (EMA21/55/89) are all surpassed acting as support at 82 area (entry level in case of dips) and the RSI indicator is also reaching the positive area above 50% providing a clear bullish signal (Pullback potential).
As long as Key Tactical Support remains valide at 68,30 in daily close a further bullish move in extension is expected towards at least 120,00 - then a confirmation of the upside breakout in daily close will be necessary to open 170
Only a break below 65,30 will jeopardize the actual bullish picture opening an alternative bearish potential towards the Strategic Key Support.
We add AVAX at 74,90 in the AKT Portfolio (check giveaway and special golden ticket to get aktio coin limited !!! in signature below)
Enjoy my friend
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.