$AVAX: Derivative Data Shows Heavy Long Liquidations Incoming
SHORT SETUP AVAX
Entry: $10.8500 - $10.9000
Stop Loss: $11.3000
Take Profit: $10.0250 (2R)
Key Levels: Support $10.6690 | Resistance $11.2000
Technical Analysis for $AVAX: AVAX is trading below EMA9, EMA21 and EMA50, confirming bearish bias. MACD is negative and widening, while Stochastic K/D sit in the low 20s. RSI at 38 shows room to fall. Resistance sits near 11.2; a break down toward 10.67 is likely. Risk: a bounce off support could stall the move.
Market Context: BTC is in a bearish 4hour trend and the broader market is broadly negative, adding pressure to altcoins like AVAX.
SHORT $AVAX
SHORT SETUP AVAX
Entry: $10.8500 - $10.9000
Stop Loss: $11.3000
Take Profit: $10.0250 (2R)
Key Levels: Support $10.6690 | Resistance $11.2000
Technical Analysis for $AVAX: AVAX is trading below EMA9, EMA21 and EMA50, confirming bearish bias. MACD is negative and widening, while Stochastic K/D sit in the low 20s. RSI at 38 shows room to fall. Resistance sits near 11.2; a break down toward 10.67 is likely. Risk: a bounce off support could stall the move.
Market Context: BTC is in a bearish 4hour trend and the broader market is broadly negative, adding pressure to altcoins like AVAX.
SHORT $AVAX