TradeCityPro | AVAX: Testing Key Support and Resistance Zones

👋 Welcome to TradeCity Pro!
In this analysis, I will review AVAX, one of the Layer 1 and RWA coins with a market cap of $11.98 billion, ranked 16th on CoinMarketCap.

⏳ 4-Hour Timeframe
On the 4-hour timeframe, AVAX has a strong Maker Buyer zone that has been tested multiple times and provided support.

⭐ On the other hand, after creating two equal peaks at 35.20, the next peak was lower, at 31.37.

✅ This indicates that the sellers' strength in the market is greater than the buyers' strength, but buyers also have a significant support level, which has been effective so far in preventing further price decline.

🧩 Since Bitcoin's trend is entirely bullish, and there’s a high chance of Bitcoin's dominance decreasing, altcoins may experience an upward move. So, I am inclined to open a long position on this coin.

📊 The first trigger for a long position is the break of 31.37. The main trigger to start the coin's primary trend will be 35.20.

💥 If you believe the market will move downward and are looking for a short position, breaking the support level I marked could lead to a price decline towards 25.42.

📝 Final Thoughts

Stay calm, trade wisely, and let's capture the market's best opportunities!

This analysis reflects our opinions and is not financial advice.

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