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AVAX AND CHILIZ – ALTCOIN CHART ANALYSIS

 


Of course, AVAX has not been spared from a (potential) bear market either. After we were still able to hold up better than the overall market, things have now gone down significantly.


We are currently trading at around USD 29 and thus well below the 4H-EMA ribbons. Therefore, we are still in a clear downtrend, which is far from broken.


We hardly find any support at the moment. We also see a clear buying wick here up to around USD 22, which was created by new buying positions. These are gladly filled.

We can also clearly see this wick on the daily chart. This does not look healthy at all and should be filled in order to be able to generate a proper counter-movement. So there is a high chance that we will enter this area again to get fresh liquidity for a possible pump.


At the same time, there is a chance that we will form a nice double bottom here and thus also a long-term trend reversal. AVAX could  become very interesting in the next days/weeks . 


Bitcoin should also be kept in mind, should we fill the wick there at around USD 25,000, it will also be filled at AVAX. This could result in good spot and trade opportunities.


​Chiliz (CHZ) is currently in a clear sideways phase, with no real upward or downward impetus. The 4H-EMA Ribbons continue to represent tremendous resistance.


Right now we're trading  at around $0.11 with no real trading volume . Here too, as with many altcoins, we find a clear wick that should be filled sooner or later. 


This was generated exactly on the monthly support S2 and shows that a lot of liquidity has come into the market here. But also that a lot of long positions were triggered here.


On the daily chart, things are looking a little more dramatic. Because here there is still clear downward potential under the monthly  support, which has already existed for a long time. 


Because we still have a liquidity gap of around USD 0.067 from the past. This could be filled if the day breaks below the above support and lead to quick sell-offs.


We therefore have a significantly greater risk of seeing even noticeably lower prices here. Trades are currently not advisable here, or  then  placing a narrow SL under the last wick.

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