Avalanche - Short Term Swing Trading Idea - 29 May 2022

AVAXUSD for a few days dropped over 35% and on bigger time frames start forming good price action upwards. In the next 3-4 days I expect gains of over 30% and hit a strong resistance level of over $31 per coin.

What is the supported thesis technically for the expected scenario on Avalanche?

- Price-action will be a strong signal in the next couple of hours
- By Elliot waves - there are 5 waves impulse and expecting classic A-B-C correction
- The RSI indicator will hit a bit lower before curving up

If you have any questions related to this trading idea I will be happy to provide you with answers. AVAXUSD