AVAX/USDT – 1H – BUYThe pair Avalanche/Tether (AVAX/USDT) breaks through the ascending trendline upwards
A continuation of the uptrend up to the next resistance line at 24.350000000 will continue.
Caution: A possible trend reversal in the direction of the support zone at 20.220000000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Inverted Hammer’ candle chart pattern is detected. The candles show ‘Inverted Hammer’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Inverted Hammer’ heading up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 26.840000000 |
| 2nd High | 25.980000000 |
| Next High | 24.350000000 |
| Current Price | 22.010000000 |
| Next Low | 20.220000000 |
| 2nd Low | 20.140000000 |
| 3rd Low | 18.430000000 |
21.490000000 – 21.130000000 – 19.950000000 – 20.220000000 – 20.140000000 – 18.430000000
Trading Signals: FOREX – AVAX – AVAX/USDT – USDT – Inverted Hammer