AVAX: Overbought at Resistance

Trade setup: Bullish break above $25 signaled continuation of uptrend and price has surpassed our target of $30 near-term. However, price is now very overbought (RSI ~ 75) just as it reached that $35 resistance. Hence, near-term, we’re likely to see it pause here on some profit taking. Previously, price broke above 200-day moving average, which confirmed a bullish trend reversal to an Uptrend.

Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).

Momentum is Bullish but extremely overbought. ( MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance.

Support and Resistance: Nearest Support Zone is $25.0 (previous resistance), then $22.0. The nearest Resistance Zone is $30.0, which it broke, then $35.0.