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AVAX price is extremely bullish at the end of the year


 

The AVAX price is much more bullish than most crypto currencies, even though the market is in a correction phase.


The AVAX price rose from USD 0.85 to USD 146 within 15 months

In just 15 months, the AVAX price rose from around USD 0.85 to around USD 147. In the last quarter of this year in particular, there was massive bullish trading volume. The general correction phase of the market had little influence on the AVAX price. Instead, AVAX was very bullish, especially this month, as AVAX corrected to around USD 75 and still fought its way up to USD 120 again.


If the AVAX course breaks the golden ratio, it could return to the ATH

Strictly speaking, the AVAX course corrected to the golden ratio at around 75 USD, which AVAX bounced off violently. AVAX is currently at the golden ratio resistance at around 120 USD and should AVAX break this, it could rise again to the ATH at around 147 USD.


If the AVAX price breaks the ATH, the next resistance awaits at 190 USD

If AVAX breaks this resistance as well, AVAX will not find the next significant resistance again until USD 190. On the other hand, should AVAX be rejected at the ATH at around USD 147 or even at the golden ratio at USD 120, AVAX could revert to the golden ratio at around USD 75, or even to the 50-week EMA at around USD 50. Before that, however, AVAX finds further golden ratio support at around USD 60. A possible correction target for AVAX, if the bull trend is over, could mark 50-60 USD. There, AVAX has a particularly good chance of initiating a trend reversal.


In the 4H chart, the golden crossover confirms the bull trend

A golden crossover is still intact in the 4H chart, which bullish confirms the trend. Nevertheless, AVAX could correct very sharply if it now encounters rejection at USD 120 at the golden ratio. This would mean that AVAX would form a “lower high” and even if AVAX is only rejected at the ATH at around USD 147, this could lead to a “double top”. Both scenarios would be bearish signals for AVAX.


Against BTC there is a massive bearish divergence in the RSI and MACD


But while the AVAX price against USD is very bullish, the AVAX against BTC price is very bearish. Because a massive bearish divergence is currently forming in the RSI and MACD. The trading volume is also decreasing at the same time. This could correct the AVAX course strongly and find support between 0.00105 - 0.00137 BTC and bounce off. If the AVAX / BTC falls sharply while the BTC price remains the same or falls, the AVAX / USD price will also be directly affected and drawn down. On the other hand, BTC could simply rise much faster than AVAX in the next few weeks and the bearish divergence could dissipate without negating the bull trend of AVAX / USD.

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