AVAX reached my bottom target and turned to move bullish. I marked green area as accumulation zone. This is strong support zone from beginning of the year and buyers should take control over the price movement here. Sellers mostly left the market, meaning its buyers’ market now.
The accumulation area on a price and volume chart is characterized by mostly sideways movement, which is seen by investors or technical analysts as indicative of large investors buying, or accumulating, a large number coin of over time. Identifying this area could help investors spot good entry points into an investment before its price begins to rise.
AVAX is on my long-term hold list, I’m targeting $21, and a breakout should take the price to red trendline around $28.
The accumulation area on a price and volume chart is characterized by mostly sideways movement, which is seen by investors or technical analysts as indicative of large investors buying, or accumulating, a large number coin of over time. Identifying this area could help investors spot good entry points into an investment before its price begins to rise.
AVAX is on my long-term hold list, I’m targeting $21, and a breakout should take the price to red trendline around $28.