Technical analysis by Harmonic.Traders about Symbol AVAX: Buy recommendation (12/20/2024)

The time frame used (day) for the short-term investor up to about three months. Prices are now trading in areas where a rebound is expected to target resistance 41.35 as a first upward target, then resistance 46.90 as a second downward target. This is on condition that the daily close does not fall below 32.30 because this makes the field open for further decline to test the next support 26.10, which if it is actually tested, purchasing power is expected to appear. This is with the relative strength index (RSI) approaching the thirty area. In addition to the appearance of signs of overselling on the smaller time frames of the ADX directional movement index, in addition to the MACD indicator in which the MACD line has moved away from the MACD signal line.