Okay guys, let's dissect this delicious $AVAX chart to see if there's anything interesting. On the larger time frame (1M), $AVAX is in an extremely strategic position, showing strong accumulation potential before a Bull Run.
Technical Analysis: The chart shows that the price has adjusted significantly and is approaching a critical support bottom. The main support zone (SUPPORT ZONE) is in the range of $8.83 to $13.59. This is an area of confluence between a strong horizontal support line and a long-term upward trend line. The price is forming a potential pattern to retest the $8-$9 zone, which is a GOLDEN opportunity for accumulation. The medium-term target could be $36, and the long-term target if the market enters a Bull Run is $253.31 as shown on the chart.
Fundamental Analysis: Fundamentally, $AVAX continues to solidify its position as a high-speed L1 platform, particularly strong in Gaming and Subnets. Recently, the Avalanche ecosystem has been focusing heavily on tokenizing real-world assets (RWA) through Subnets, attracting the attention of major financial institutions. This creates sustainable growth momentum for the value of $AVAX.
The clear strategy at this time is DCA (dollar-cost averaging) in the mentioned support area. This is a long-term investment with an extremely attractive R:R ratio.
Recommend everyone HOLD and Stacking $AVAX at Binance
If anyone is holding any altcoins, just comment, and I will check the chart for you!
#AVAX #TechnicalAnalysis #Crypto #BinanceSquare #Avalanche