One hour changed the mood on $AVAX, but it hasn't changed the week.
I'm watching the contrast, not just the green candle. Around midday WIB, $AVAX jumped from $8.62 to $8.90 on Binance spot in a single hour, with $350,000 in short liquidations across major venues in that same hour. That reads as short-covering energy, not proof of a new trend — and the chart keeps the distinction honest. The 4-hour chart has it near $8.79, still inside a range it has traded for days, and still about 7% lower over the past week.
The zones:
Support $8.29–$8.55
Resistance $8.88–$9.16
A 4-hour close back under $8.29 would tell me the hour was just a bounce inside the downtrend. A close above $9.16 would be the first real break in that story, and until then I treat the surge as a test of resistance, not a reversal.
Which zone gets tested first on the next few 4-hour closes — $8.29–$8.55 below, or $8.88–$9.16 above?
Not financial advice. DYOR.
$AVAX #Avalanche #CryptoMarkets #Liquidations
I'm watching the contrast, not just the green candle. Around midday WIB, $AVAX jumped from $8.62 to $8.90 on Binance spot in a single hour, with $350,000 in short liquidations across major venues in that same hour. That reads as short-covering energy, not proof of a new trend — and the chart keeps the distinction honest. The 4-hour chart has it near $8.79, still inside a range it has traded for days, and still about 7% lower over the past week.
The zones:
Support $8.29–$8.55
Resistance $8.88–$9.16
A 4-hour close back under $8.29 would tell me the hour was just a bounce inside the downtrend. A close above $9.16 would be the first real break in that story, and until then I treat the surge as a test of resistance, not a reversal.
Which zone gets tested first on the next few 4-hour closes — $8.29–$8.55 below, or $8.88–$9.16 above?
Not financial advice. DYOR.
$AVAX #Avalanche #CryptoMarkets #Liquidations
