AVAX/USDT – 1H – BUYThe currency pair Avalanche/Tether (AVAX/USDT) jumps from the bullish trendline down.
A bearish trend downwards to the next support level at 43.650000000 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 55.790000000 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 0.24-Level.Continuation of the current ascending trend will persist. Current target is 55.79 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance zone at 55.790000000 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bullish Engulfing’ chart pattern is found. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 55.790000000 |
| Current Price | 52.180000000 |
| Next Low | 43.650000000 |
| 2nd Low | 41.510000000 |
| 3rd Low | 38.500000000 |
Download AVAX/USDT Signal Image
Trading Signals: CRYPTO – AVAX – AVAX/USDT – USDT – Bullish Engulfing