🏔️ AVAX at $6.51 — quietly up 1.8% while the market bleeds. Nobody's talking about it. That's usually interesting.
AVAX is down 90%+ from its highs, but it's showing signs of life. 4H RSI at 48.7 — neutral. MACD histogram at -0.008 — selling pressure is drying up. Price is sitting right on the 4H SMA7 ($6.52) and SMA25 ($6.62). It's testing resistance, not support.
The daily chart: RSI at 45.8, MACD negative, but price is above the 7-day SMA ($6.59) and 25-day SMA ($6.55). We're right at the crossover point. The 99-day SMA at $8.22 is the real target — that's 26% away.
Volume is 1.2x average with positive price action. Long/short ratio at 1.83 — more longs positioned, but not extreme. That's healthy.
📋 The plan:
• Entry: $6.00–$6.50 — this is the accumulation zone.
• SL: $5.50 — below the recent low cluster. If it breaks, we're looking at single digits.
• TP1: $7.50 — retest of the 50-day SMA area.
• TP2: $8.50 — only on sustained volume and a daily MACD flip.
Risk/reward at 1.7:1 is solid. Strategy says HOLD — if you're in, stay in. If you're not, wait for a clean break above $6.60.
Question: AVAX holders — are you averaging down or waiting for confirmation? 🏔️
#AVAX #Avalanche #CryptoTrading #Hold
⚠️ Disclaimer: Not financial advice. Always DYOR. Crypto trading involves significant risk of loss.