AVAX: Van de Poppe Eyes $8.30-$8.80 Retest Zone
Michaël van de Poppe states Avalanche corrections near completion and targets a retest of the prior breakout area, flagging $8.30-$8.80 as an accumulation zone for AVAX.
SourceAnalysis
@CryptoMichNL notes that multiple corrections are entering their final phase, positioning AVAX for a retest of the previous breakout area with accumulation favored between $8.30-8.80.
On the 4h chart, AVAX trades at $9.14 inside the Bollinger Bands with the lower support at $9.11 and upper resistance at $10.02. The EMA50 at $9.77 and EMA200 at $9.75 form a tight resistance cluster above price while the MACD death cross at -0.14 keeps trend structure bearish and RSI at 33.25 leaves room for further downside before any reversal materializes.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast