AVAX: analysis for September 13
The resistance level with the upper border of $20.60 was broken on the Daily timeframe on September 11. The trend is bullish now and the impulse wave develops.
A pullback buying opportunity will appear after the correction formation on the Daily timeframe. The new resistance level that can be formed around these price marks or the highs of August 23 – 26 will be the target for the bullish movement continuation after the correction is finished.
In case of successful development of the trend, a more distant target will be on the highs of August 12 – 14, where the next resistance is located with the borders of $29.45 – $30.35.
When breaking through the support, the trend will reverse and we should look for selling opportunities. The borders of this level are $17.90 – $18.25.
Longs will remain relevant until the market is above the nearest support level on the Daily chart, the lows of September 6 – 7.
A pullback buying opportunity will appear after the correction formation on the Daily timeframe. The new resistance level that can be formed around these price marks or the highs of August 23 – 26 will be the target for the bullish movement continuation after the correction is finished.
In case of successful development of the trend, a more distant target will be on the highs of August 12 – 14, where the next resistance is located with the borders of $29.45 – $30.35.
When breaking through the support, the trend will reverse and we should look for selling opportunities. The borders of this level are $17.90 – $18.25.
Longs will remain relevant until the market is above the nearest support level on the Daily chart, the lows of September 6 – 7.
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