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AVAX/USDTPERP (Futures) Potential Upward Movement

AVAX/USDTPERP (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 78.856, 78.900, 78.950.

Key Support Levels: 66.396, 57.005, 56.500.

Daily Chart:

The price on the higher time frame found support around the 66.396 USDT mark where it left a bar with a long wick to the downside which shows that the buyers are coming back to the market and might push the price again to the upside toward the 78.856 USDT level.

AVAX/USDTPERP (Futures) Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the pair succeeded to break the bearish channel to the upside after finding buyers near the area of confluence made by the strong support and the 61.80% Fibonacci retracement level around the 66.396 USDT mark. A lower pullback could be seen before the market shoot to the upside toward the 78.856 USDT level.

Signal Idea:

Buy Limit Order @ 66.590

TP 1 @ 78.617

TP 2 @ 78.900

Stop Loss @ 61.217

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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