๐บ $AVAX 1H: green in a red market, NO TRADE yet
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๐ State: AVAX trades 8.579 (+1.1% 24h) while most majors are red. Since the Nov 10 low at 8.068 it has printed higher lows: 8.144, 8.210, 8.376, 8.401. It is now pressing the 8.54-8.55 lid. The 1H is back above EMA20/50/200 (about 8.38-8.41), but the 4H is still below EMA200 (9.12).
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๐งฑ Levels:
Resistance: 8.747-8.759 (Nov 10 highs), then 9.00-9.01 (Nov 9 spike).
Support: 8.40-8.44 shelf, then 8.068.
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๐ซ Why no trade: a long with a stop under the 8.40 shelf (about 8.37 with 0.3รATR, ATR 0.106) earns under 1R to the first wall at 8.75. TP1 fails the 1.5R minimum.
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๐ What would change it: a 1H close above 8.76 opens 9.00 with a tighter structure. A 1H close below 8.40 breaks the higher-low sequence.
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Not financial advice. DYOR.
#AVAX #Avalanche #TechnicalAnalysis #BinanceSquare
โ
๐ State: AVAX trades 8.579 (+1.1% 24h) while most majors are red. Since the Nov 10 low at 8.068 it has printed higher lows: 8.144, 8.210, 8.376, 8.401. It is now pressing the 8.54-8.55 lid. The 1H is back above EMA20/50/200 (about 8.38-8.41), but the 4H is still below EMA200 (9.12).
โ
๐งฑ Levels:
Resistance: 8.747-8.759 (Nov 10 highs), then 9.00-9.01 (Nov 9 spike).
Support: 8.40-8.44 shelf, then 8.068.
โ
๐ซ Why no trade: a long with a stop under the 8.40 shelf (about 8.37 with 0.3รATR, ATR 0.106) earns under 1R to the first wall at 8.75. TP1 fails the 1.5R minimum.
โ
๐ What would change it: a 1H close above 8.76 opens 9.00 with a tighter structure. A 1H close below 8.40 breaks the higher-low sequence.
โ
Not financial advice. DYOR.
#AVAX #Avalanche #TechnicalAnalysis #BinanceSquare
