AVAX - Fundamentally Strong and Undervalued ecosystem!
Many new projects with great use cases and potentials are sprouting atop the AVAX ecosystem, AVAX's price is still ranging about 20-40$ which is relatively undervalued alongside its market cap rank at 43rd and a size of 4.17 billion USD. To put it into perspective, AVAX has triple the transaction speed of polka DOT and 4.5 x that of COSMOS. It is has no limits on its subnets, compared to DOT's limit of around 100 parachains. These are from multiple sources including: cryptoseq.medium.com...tention-612278598da2
Thus, I have a pretty good outlook on AVAX overtaking or catching up with DOT as a competitor.
Technical wise,
Entries at 28.42 - 26.84 zone (white box) where the previous resistance was.
A retest and validation of this as support zone (resistance support flip) would give us greater bullish momentum to break the previous resistance at 37.5485 which has been broken through twice (fakeouts) and touched a third time recently before a dump down to a low of 19.29. A bounce from the white box would give us enough strength to break for the highs beyond.
Targets at 37.54 and 48.5
Stop loss at 25.6
A good reassurance will be seeing the MACD reset to midline or below before a rebound off the white box with bullish volume. That would give us a high probability trade.
Thus, I have a pretty good outlook on AVAX overtaking or catching up with DOT as a competitor.
Technical wise,
Entries at 28.42 - 26.84 zone (white box) where the previous resistance was.
A retest and validation of this as support zone (resistance support flip) would give us greater bullish momentum to break the previous resistance at 37.5485 which has been broken through twice (fakeouts) and touched a third time recently before a dump down to a low of 19.29. A bounce from the white box would give us enough strength to break for the highs beyond.
Targets at 37.54 and 48.5
Stop loss at 25.6
A good reassurance will be seeing the MACD reset to midline or below before a rebound off the white box with bullish volume. That would give us a high probability trade.
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Had 2 entry to target opportunities! Perfect
