Ethereum At the beginning of the projects that came to the fore among the murderers Avalanche (AVAX) is coming.
While the project continues to grow on strong foundations, it also attracts the attention of many institutional investors.
Finally, the announcement that the Luna Foundation has added Avax to its reserves alongside Bitcoin has turned the attention of investors back to AVAX.
On Avax, our major supports are located at $75-76 and $55.
Currently struggling with the fib resistance at $88.95, Avax, if this level is broken, $100 levels can be targeted again.
Our trend support: $85
Our supports according to Fibonacci levels: $75 and $53
Our resistances according to Fibonacci levels: $89, $100, $111
Is It Evaluated From This Level?
We observe that there is a nice uptrend with 3 contacts on the horizontal and it was broken in the last drop.
Fortunately, yesterday’s Terra news helped us rise above this trend again. Price is stuck between this trend support and fib resistance for now.
We see the new entry as risky without seeing closes above $89.
Those who want to make a risk-free entry or those who want to buy gradually can follow the 75$-76$ levels. If we rise above these levels, we can enter at the 4-hour close above $89. It can be followed with a 2% stop.
In a scenario where Bitcoin does not collapse and gives opportunities to altcoins, we see the range of $111 to $126 in AVAX as a gradual profit zone in the short term.
*Not Investment Advice.