Starting on 17 January, the AVAX cryptocurrency started a dangerous game. Signals of weakness of buyers in the weekly timeframe have every chance to grow into a powerful fall wave with the final target of $40. What critical points should you pay attention to in order not to fall into the trap and not to freeze capital for a long time? the main problem for buyers and the new growth trend is the $90 mark. Sellers took control of the range of this mark in January 2022. Since then, there has been a consolidation on small volumes in which buyers are behaving helplessly. https://www.tradingview.com/x/fb2omvqo/ Starting from 14 March, the situation on the AVAX market has changed. Buyers were able to absorb several weekly candles from sellers thanks to one weekly candle. However, globally, the price is still within the consolidation range of $55-$90. Therefore, local victories of market participants in this range in any case can not be perceived as signals for action. If during the trading week on 21 March, buyers will be able to break and fix above $90 – this will be a specific signal to investors to aggressively buy AVAX. The main target of this scenario is $236. Given how Bitcoin is held and the prospect of USDT dominance declining is high, this scenario is highly likely. But, it should be understood that market sentiment can change quite quickly in consolidation. So if buyers can’t keep the $70 mark, the AVAX price could collapse ...
