In addition to automated chart patterns, altFINS’ analysts conduct technical chart analyses of top 30 cryptocurrencies. We call these Curated Charts and they evaluate 5 core principals of technical analysis: Trend, Momentum, Patterns, Volume, Support and Resistance.
Avalanche (AVAX) technical analysis:
Trade setup: Following a bearish breakout from Sideways Channel ($15-$20), below $15 support, price made a new Lower Low (below June’s low point). That’s a sign of Downtrend. (set a price alert).
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish).
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance: Nearest Support Zone is $12. The nearest Resistance Zone is $15 (previous support), then $20, and $25.
See more curated charts of coins with technical analyses.
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