🔥 AVAX Hitting Resistance: Reversal Or Break Out
Recently I made an analysis on AVAX and the bullish channel it was trading in. In this analysis I wrote that it was likely that AVAX was going to follow this channel in the near term, which is exactly what it ended up doing, seeing some crazy returns in the process.
As of today, AVAX is trading near the top of the channel. Two things can happen, the price either reverses back towards the lower bound of the channel ($100-$110 area) or the price breaks out further and continues the parabolic move.
In case of a bearish move, I'd be scouting the lower channel bound for a potential entry. In case of a bullish break out, I'm eyeballing the $150 target for a partial exit.
AVAX has been performing exceptionally good as of late. I'm confident that this token has a lot of upside left for the remainder of the bull-run.
Happy trading!
As of today, AVAX is trading near the top of the channel. Two things can happen, the price either reverses back towards the lower bound of the channel ($100-$110 area) or the price breaks out further and continues the parabolic move.
In case of a bearish move, I'd be scouting the lower channel bound for a potential entry. In case of a bullish break out, I'm eyeballing the $150 target for a partial exit.
AVAX has been performing exceptionally good as of late. I'm confident that this token has a lot of upside left for the remainder of the bull-run.
Happy trading!
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