AVAX Chart Analysis 30/7/68

AVAX has recently tested a major resistance level at 875 THB but failed to break through, while the RSI has entered the overbought zone. This suggests a possible short-term pullback. However, the price action hints at the potential formation of a bullish Cup and Handle pattern, with support seen near 734 THB.

Trading Strategy:
A buy entry can be considered at the support level of 734 THB, where the handle of the pattern may form.
If the price holds this level, there is potential for a rebound toward the resistance at 875 THB—this level may serve as a short-term profit-taking point.
If AVAX manages to break above 875 THB, it would confirm a bullish reversal and continuation of the uptrend.
A stop-loss should be placed if the price drops below the previous low at 664 THB.

AVAX is a Layer 1 blockchain positioned to benefit from the growing trend in Stablecoins and Real World Assets (RWA), as the Avalanche network offers robust infrastructure for such use cases.