$AVAX After a deep decline on the daily level, a clear breakout pullback structure has formed on the 4H level, with the price stabilizing above EMA20 and testing previous high resistance.
🎯 Direction: Long
🎯 Entry: 8.82 - 8.88
🛑 Stop Loss: 8.68 (if it drops below the previous 4H candle low and EMA20 support, the logic fails)
🚀 Target 1: 9.25 (previous daily level small platform resistance)
🚀 Target 2: 9.60 (Fibonacci 0.382 retracement level and near EMA50)
Market Analysis: The price has rebounded from a low around 8.30, with four consecutive 4H bullish candles breaking through the descending trend line and EMA20 pressure. The latest candle is slightly oscillating near the previous high of 8.84, which is a healthy pullback.
Core Logic: 1. Data Resonance: The funding rate is only 0.0036%, with no overheating bubbles; position size is stable, without a short squeeze; bid depth is unusually thick in the 8.88-8.89 range, indicating institutional support. 2. Price Action: After breaking out, the pullback is on low volume, sell orders (Asks) are sparse above 8.90, and the breakout resistance is small. RSI (50.7) is in a healthy neutral zone with upward potential. 3. Market Psychology: After a continuous oversell on the daily level, there is a sustained buying absorption for the first time, with short power exhausting. The current pullback is a standard healthy reset after the breakout, aimed at clearing floating positions.
Trade here 👇$AVAX
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