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Chart of the day - Avalanche

The on-chain data is telling us exactly what happens next for AVAX

What’s beautiful about the AVAX chart is that it is at a very critical support level that gets bought up very often.

Sheldon The Sniper by Sheldon The Sniper
January 28, 2022
in Signals & Trades
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Chart of the Day: AVAX

What’s beautiful about the AVAX chart is that it is at a very critical support level that gets bought up very often. Volume is down trending, which is great because it means volume is not backing the momentum. When key levels to the upside break is when true volume comes in. AVAX is 55% down from ATHs, volume isn’t not backing the move, which means it usually reclaims very quickly to the upwards side when true volume comes in. AVAX is waiting for Bitcoin to reclaim key levels, and when it does, it will be one of those shooting out the gates first. 

For more on AVAX check out the latest Messari Crypto Thesis for 2022 here. 

Tags: AVAX
Sheldon The Sniper

Sheldon The Sniper

Crypto Trader, TA Analyst,Educator: Daily Market updates & key educational tips No financial advice! I won’t ask for money.

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