Issued on: 21st Jun’23
Valid upto: 26th Jun’23
Token: AVAX
Category: Layer-1 Blockchain
Market Cap: $4 Billion
Circulating Supply: 344,976,530
Total Supply: 431,695,980
Price Update:
AVAX price at the time of writing (21st June, 16:30) is $12.22, with 24-hour volume increased by 59.60% to $148 Million. AVAX price is up by 7.39% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
Analyzing the above chart:
- AVAX has breached its week-long accumulation zone and is now displaying a medium-term bullish trend.
- In the 4-hour time frame, AVAX is trading above EMA55(orange colour) which confirms the bullish sentiment , at the same time a minor pullback to $12 before continuing the upward trend is anticipated.
- Our price target for AVAX is set at $13.25, which aligns with the EMA200(blue colour)on the 4H chart. The second target is at $14.01, which corresponds to a significant S/R flip.
- A Long Trading strategy can be assessed between $11.80-$12.28 with invalidation below $11.65
- On the upside, one can see a rise of 10-15% toward $13.25 & $14.01
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: AVAX is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade AVAX in Futures Market at CoinDCX
Trade AVAX in futures Market at CoinDCX
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The Content is for informational and educational purposes only. The Content is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or securities or virtual digital assets or to participate in any investment or trading strategy.The Content or any part of it is not legal, financial, investment or tax advice. The calculations, data, risk return formulations, performance or market capitalization indicators are based on the independent data sourced by CoinDCX or third parties. Past performance is not indicative of any future results.
