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🔷️ On the weekly timeframe, #AVAX# has formed a double bottom pattern and has reacted strongly from a key support zone. It recently broke through an important resistance level and is now performing a re-test at that level (green line).
✍️ If it manages to hold above this support or the double bottom pattern plays out, potential resistance levels are shown with yellow lines based on Fibonacci levels.
📊 Technical Indicators:
✅ RSI (~56): In the neutral-to-bullish zone; upward momentum may be building.
✅ MACD (~+0.48): In positive territory; signals buyer dominance.
⚠️ ADX (~21): Below 25; trend strength is weak—volume confirmation may be needed.
✅ EMAs: Trading above the 20 and 50-day EMAs; technically positive.
🔍 What is Avalanche ( $AVAX )?
Avalanche is a high-performance Layer-1 blockchain platform designed for decentralized applications with fast transactions and low fees.
Offers subnet architecture for scalable network customization
Supports smart contracts for DeFi, NFTs, and gaming projects
Uses Avalanche Consensus to achieve near-instant finality
⚠️ This content is not investment advice. $Crypto assets are highly risky. Please do your own research before making any investment decisions.
#AVAX# #Avalanche # Altcoin