AVAX SWING LONG IDEA - ALTSEASON 2024-2025
2024-11-27

AVAX made a pretty parabolic move upwards, and unfortunately, it didn’t give us an entry from the bearish trendline break retest, which I was waiting for to initiate the trade.

Currently, the price seems to have lost its momentum. I believe we’ll see a retracement into the daily demand zone (blue box), which aligns with the equilibrium level of the entire leg up—making it a key level for me. This is the first entry zone, and I plan to initiate the trade there with half position size around the $35.5 level (purple scenario).

The second entry zone is $30.4, as this level is built from weekly demand and sits below the daily swing liquidity, where I assume a significant amount of sell stops are likely resting. If I were a market maker for AVAX, I would definitely look to visit and grab that liquidity before driving the price to new highs (black scenario).

I believe these zones are the last opportunities to initiate a swing long trade, as I anticipate crazy pumps soon that will likely push the price beyond these levels for good.

I will be holding this position as a swing trade.

