Lingrid | AVAXUSDT false BREAKOUT of the DECEMBER Low
2025-01-22
Category: None

BINANCE:AVAXUSDT  pulled back towards the key support level at 30.00, where it has bounced off twice, forming a consolidation area that could be an accumulation. Observing the current price action, we notice that it's forming lower highs and maintaining equal lows, suggesting that the price may dip below this level to absorb liquidity. On the daily timeframe, the price action has created a few doji candles, which typically indicate a loss of momentum as the market approaches a support level. Considering the fact that the price made fake breakout of the December low, I believe that it may drop slightly before making new higher lows. My goal is the resistance zone around 45.00


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