AVAX/USDT – 1H – BUY

The pair Avalanche/Tether (AVAX/USDT) moves from the bullish trendline down.

A bearish descent down to the next support level at 48.100000000 will persist.

Caution: A possible change in the direction of the resistance level at 52.050000000 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Current target is 52.08476 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance level at 52.050000000 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Bullish Engulfing’ candlestick chart pattern is existing. The candles form ‘Bullish Engulfing’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.

Download AVAX/USDT Signal Image

Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Bullish Engulfing