🚀 $AVAX is showing a potential technical setup!
The weekly chart for AVAX/USDT on Binance indicates an active test of a macro descending trendline following a strong bullish impulse off the 6.036 base.
📈 The Technical Setup:
• The Pattern: Macro Trendline Breakout with Fibonacci Extension Levels
• Short-term Target: 13.231 (Fib 1.618)
• Macro Objective: 17.678 (Fib 2.618)
• Market Structure: Reversal / Breakout
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 10.000 - 10.483
• Resistance: 13.231
• Breakout Level: 11.118
• Stop Loss / Invalidation: 8.784
📊 Confirmation:
• Volume: Neutral/standard volume
• Momentum: Strong bullish weekly expansion candles testing macro trendline
• Trend: Attempting macro trend reversal after prolonged consolidation
⚠️ Invalidation:
A weekly close back below the 8.784 Fibonacci level or loss of the 10.000 psychological support zone.
AVAX is testing a significant macro trendline resistance with bullish momentum, making the 13.231 level a key target if continuation holds.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#AVAX #crypto #BinanceSquare #Binance #bitcoin
The weekly chart for AVAX/USDT on Binance indicates an active test of a macro descending trendline following a strong bullish impulse off the 6.036 base.
📈 The Technical Setup:
• The Pattern: Macro Trendline Breakout with Fibonacci Extension Levels
• Short-term Target: 13.231 (Fib 1.618)
• Macro Objective: 17.678 (Fib 2.618)
• Market Structure: Reversal / Breakout
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 10.000 - 10.483
• Resistance: 13.231
• Breakout Level: 11.118
• Stop Loss / Invalidation: 8.784
📊 Confirmation:
• Volume: Neutral/standard volume
• Momentum: Strong bullish weekly expansion candles testing macro trendline
• Trend: Attempting macro trend reversal after prolonged consolidation
⚠️ Invalidation:
A weekly close back below the 8.784 Fibonacci level or loss of the 10.000 psychological support zone.
AVAX is testing a significant macro trendline resistance with bullish momentum, making the 13.231 level a key target if continuation holds.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#AVAX #crypto #BinanceSquare #Binance #bitcoin
