$AVAX 1D

Let’s consider something from the world of altcoins today, since I don’t expect super-volatility for Bitcoin over the weekend, and after that, the idea of ​​growth remains valid. By the way, in the last YouTube video I gave a recommendation to buy AVAX at a price of $9.35, which is 10% lower than the current price.

Technical part 🔎

In 2023, AVAX is trading within a falling wedge. This formation is bullish, which reinforces the assumption that news + technology = high upside potential. We tried unsuccessfully to break through the upper boundary of the formation in July, and we couldn’t get past it today.

Since I don’t expect high volatility for Bitcoin until Monday, I think the weekend will also be a reason for AVAX to unload. I expect a correction in the range from $10 to $9.5.

A long position will be more reliable if you take it at breakout 11, where EMA-100 1d passes. If it breaks upward, the target minimum will be 13, with a fairly good probability of rising straight to 14.75 or even 16.45. In this case, the stop should be placed below the 10.7 level within the existing formation.

Many cryptocurrencies are looking up at this time, but do not overload yourself with longs and trade carefully!