AVAX/USDT – 30M – BUYThe currency pair Avalanche/Tether (AVAX/USDT) jumps from the bullish trendline downwards
A bearish descent downwards to the next support level at 41.240000000 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 50.840000000 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Hammer’ candlestick pattern is found. The candles form ‘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 ‘Hammer’ heading up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 52.050000000 |
| 2nd High | 50.860000000 |
| Next High | 50.840000000 |
| Current Price | 43.110000000 |
| Next Low | 41.240000000 |
| 2nd Low | 40.890000000 |
| 3rd Low | 39.340000000 |