🐳 $AVAX 4-hour golden cross. Let’s take a look from the perspective of chip distribution:
The bearish momentum histogram lasted for 17 four-hour candles, meaning sellers had the upper hand throughout this period. Now, selling pressure has finally eased. But the price is still below the zero line, and there are plenty of trapped holders above. A rebound may encounter selling pressure from people looking to break even when it reaches the previous high-volume trading zone.
What do you think?
#AVAX
Markets change quickly, so make your own informed judgment.
The bearish momentum histogram lasted for 17 four-hour candles, meaning sellers had the upper hand throughout this period. Now, selling pressure has finally eased. But the price is still below the zero line, and there are plenty of trapped holders above. A rebound may encounter selling pressure from people looking to break even when it reaches the previous high-volume trading zone.
What do you think?
#AVAX
Markets change quickly, so make your own informed judgment.