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BNB AND AVAX – ALTCOIN CHART ANALYSIS

 


BNB had a brief but sharp dip yesterday. After climbing and riding the uptrend all week, we briefly fell to $410.


We are currently trading around $450 and have made a higher high and reconfirmed the uptrend as support. We made a nice bounce on monthly support P.


This shows the strength that BNB is showing at the moment. The bulls appear to have regained control. The trading volume has also increased significantly at this point in time and, based on smaller time units, initially suggests that prices will continue to rise.

We see a similar picture on the daily chart. There even the daily volume was topped again, which clearly speaks for a high level of buying interest. The upward trend is still active.


At the same time, the EMA ribbons were confirmed as support on the daily. These flipped green shortly before, which also speaks for a trend reversal. This was last the case in December.


Unfortunately, the RSI is slightly in the overbought territory. So we have to be careful. BNB definitely has potential for more highs, however, a major correction could be looming in the next 1-2 weeks.


AVAX is also behaving very healthily throughout the course. After we were recently rejected by the monthly resistance R1 and corrected briefly to USD 90, we were able to recover quickly.


We are currently trading at around $98 and continue to use the 4H-EMA ribbons as support. These represent enormous support in an uptrend and are often tested as support.


Trading volume is also relatively stable and may even make new highs at times. So we don't see any bearish signs here either in the volume or in the RSI, which would speak for a correction for the time being.

We see a similar picture on the daily chart. Here the RSI has slowly arrived in the overbought area, but we are not forming a bearish divergence or anything else here.


The daily trading volume also continues to increase. This means that there is still great interest in sending AVAX to higher prices. So this journey could go on for now.


The next intermediate target could be the area around USD 110. There is the new monthly resistance R1, which first needs to be broken through and possibly confirmed as support.

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