#AVAXUSDT : The Calm Before the Squeeze Storm

#AVAX

The price is moving within a descending channel on the hourly timeframe. It has reached the lower boundary and is trending towards a bounce. A retest of this boundary is expected.

The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.

A key support zone (in green) was found at 8.30. The price has bounced off this zone several times, making it a strong support level.

The price is trending towards the 100-period moving average, which we are approaching. This trend supports an upward move.

Entry Price: 8.80
First Target: 9.05
Second Target: 9.29
Third Target: 9.58

You can close at the second target or wait for the third target. The choice is yours.
Stop Loss: At the resistance zone (in green).

Remember this simple rule: Money Management.

Any questions? Please leave a comment.

Thank you.