We were taking a peek at it the other day and saw some seriously interesting stuff going down.
Okay, so there's been this key resistance level holding strong for a while - we're talking multiple tapbacks getting rejected.
But then, more recently, before the recent bull run, we bounced off it as support.
Now fast forward to current times...we wicked above it to close the daily candle there.
So that zone flipped to support and held us up! 💪
When we looked at the daily, we saw that it had formed this cute little double top pattern...and then BLASTED through it! 💥 It has uber-bullish vibes right now.
So here's the sitch.
Scenario 1: We get a tasty retrace back down to retest $24.42. We'd want to see some serious buyers step in and validate it before calling a long entry.
Maybe a triple tap scenario? 👊
We need confirmation it can act as support since it hasn't in a hot minute!
Scenario 2: This is an even juicier setup that would be dipping all the way back down to $20.53.
That level already has support credentials, so a bounce there would set up a prime long entry to ride back upwards!
As for projections - if AVAX keeps trucking the way it has been, $29-$30 doesn't seem out of the question! 🚀
But let's see if those pullback scenarios play out first. We are pumped about where this one is potentially going.
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