📈 Quick look at AVAX/USDT price action
AVAX is showing a notably positive momentum in recent hours, with the price currently trading near the 11.357 USDT level, up by approximately 1.14%+.
Key technical observations from the chart:
Strong and direct breakout: The price has broken above the previous local highs with a clear penetration of the 11.300 USDT level using a strong green candle, indicating buyers are currently in control.
Relative Strength Index (RSI 14): The RSI line is above the 70 level, reflecting strong buying momentum (Overbought zone). This calls for caution against any minor corrective pullback that could take profit before the uptrend continues.
Trading Volume: There is a gradual increase in volumes along with the latest green candles, supporting the continuation of the upward move.
💡 Trader’s scenario:
If it continues: Holding above 11.300 could push the price toward targeting 11.500, then 11.800.
If a correction occurs: We may see a retest of previous support levels between 11.100 - 11.000 to build a solid base before starting the move again.#AvalancheAVAX
AVAX is showing a notably positive momentum in recent hours, with the price currently trading near the 11.357 USDT level, up by approximately 1.14%+.
Key technical observations from the chart:
Strong and direct breakout: The price has broken above the previous local highs with a clear penetration of the 11.300 USDT level using a strong green candle, indicating buyers are currently in control.
Relative Strength Index (RSI 14): The RSI line is above the 70 level, reflecting strong buying momentum (Overbought zone). This calls for caution against any minor corrective pullback that could take profit before the uptrend continues.
Trading Volume: There is a gradual increase in volumes along with the latest green candles, supporting the continuation of the upward move.
💡 Trader’s scenario:
If it continues: Holding above 11.300 could push the price toward targeting 11.500, then 11.800.
If a correction occurs: We may see a retest of previous support levels between 11.100 - 11.000 to build a solid base before starting the move again.#AvalancheAVAX
