Description:
AVAX is currently testing a critical trendline support around the $23 zone. Price has been consolidating within a descending triangle structure, with lower highs pressing down and a flat support zone being tested multiple times.
The Volume Profile (VPVR) shows heavy volume concentration between $23 – $25, suggesting this area has acted as a major battleground for buyers and sellers. A breakdown from here indicates that demand is weakening, opening the door for a deeper move to lower value areas.
Resistance Zones: $24.60 – $25.00 (supply overhead, capped by descending trendline)
Support Zones (Targets):
TP1: $19.20 (first key volume node / demand zone)
Final TP: $15.60 (major liquidity area & historical support)
Trade Idea:
If AVAX fails to reclaim above $23.50 – $24.00 and continues lower, a short setup could unfold toward the mentioned target zones. TP1 at $19.20 is the first demand zone to watch, while the final downside target rests near $15.60.
The Volume Profile significance here is that once price loses the high-volume support ($23 – $24), it may quickly travel toward lower-volume regions, as there is less historical trading activity to provide support.
Key Notes:
Break and close below trendline = bearish continuation.
Volume confirmation on breakdown will add conviction.
Manage risk properly, as false breakdowns are possible.
Happy Trading, Best Regards!-Harshit
Disclaimer: This is not financial advice. Please do your own analysis before entering any trade.
AVAX is currently testing a critical trendline support around the $23 zone. Price has been consolidating within a descending triangle structure, with lower highs pressing down and a flat support zone being tested multiple times.
The Volume Profile (VPVR) shows heavy volume concentration between $23 – $25, suggesting this area has acted as a major battleground for buyers and sellers. A breakdown from here indicates that demand is weakening, opening the door for a deeper move to lower value areas.
Resistance Zones: $24.60 – $25.00 (supply overhead, capped by descending trendline)
Support Zones (Targets):
TP1: $19.20 (first key volume node / demand zone)
Final TP: $15.60 (major liquidity area & historical support)
Trade Idea:
If AVAX fails to reclaim above $23.50 – $24.00 and continues lower, a short setup could unfold toward the mentioned target zones. TP1 at $19.20 is the first demand zone to watch, while the final downside target rests near $15.60.
The Volume Profile significance here is that once price loses the high-volume support ($23 – $24), it may quickly travel toward lower-volume regions, as there is less historical trading activity to provide support.
Key Notes:
Break and close below trendline = bearish continuation.
Volume confirmation on breakdown will add conviction.
Manage risk properly, as false breakdowns are possible.
Happy Trading, Best Regards!-Harshit
Disclaimer: This is not financial advice. Please do your own analysis before entering any trade.
Pernyataan Penyangkalan
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.