SasanSeifi| Are We Headed for $35/$40 !??
2024-10-05

Hey there, ✌  BINANCE:AVAXUSDT  In the daily timeframe, we've witnessed a persistent downward trend for more than four months. Recently, the price corrected and has now entered a phase of positive volatility around the $20 level. After breaking the downtrend line, it successfully reached the critical $30 threshold, indicating significant growth.

At present, after testing the $30 resistance, the price has retraced and is trading around $26. It's vital to maintain support levels between $25 and $20 for a continued upward trajectory.

Looking forward, if we can hold these support zones and the price stabilizes above the 200 EMA and the $30 level, we could target a move towards $35 and potentially reach the $40 order block.

For a better grasp of future price movements, it’s essential to monitor how the price reacts. Should the price fail to hold above these critical support levels and dips below the demand zone, we may see further corrections down to $15, $13.50, and $10.

This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊