Lingrid | AVAXUSDT divergence at RESISTANCE: Short TRADE Alert
2024-09-12

BINANCE:AVAXUSDT  market is currently moving downward, making lower highs and approached a critical support level. Following a pullback towards the resistance zone, the market failed to gain further upward momentum. This price action formed a divergence, and the price has since fallen below the key 24.00 level. Moreover, the price has broken below the upward trendline after the formation of a long-tailed bar, indicating selling pressure. Since the recent bullish movement was against the prevailing major bearish trend, it seems likely that the market will continue falling towards the support level. Because the formation of a triangle pattern suggests a consolidation phase, which often precedes a continuation of the sideways trend. My target is support level around 22.60


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