With selling pressure easing at a key Fib level, can bulls seize the opportunity to rebound?
. Gains of 29% in July saw AVAX break the lower low of the bearish market structure. However, the recent pullback from the $16 price zone has almost erased those gains.If Bitcoin continues to remain under $29k, the likelihood of further dips for AVAX will become higher.Analyzing AVAX’s price movement highlighted the weakening bullish conviction. The Relative Strength Index dipped below neutral 50 on 21 July and hasn’t recovered.
The price action showed an easing of the retracement at the 61.8% Fib level . A gentle bounce off the level hinted at some buying power available to bulls with a look southwards revealing that bulls had rallied off this level early in July.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
A surge in AVAX’s popularity shouldn’t be misinterpreted by traders because…Although Avalanche saw a significant surge on the social front, its price told a different story. Additionally, a decline in the daily transactions and active addresses added to the misery of troubled AVAX investors.
Lire la suite »
XRP bulls can bid at this level as weak BTC forces retracementThe 50% Fib retracement level has stopped two recent price pullbacks, allowing bulls to front a rebound. Will the trend repeat?
Lire la suite »
BEYOND LOCAL: Toronto Blue Jays unveil new Rogers Centre renovation plans for 100 levelDesigned specifically for baseball viewing, the renovations will have all the seats oriented toward the infield, improved sightlines with less obstruction, and new seats closer to the field as a result of the remodelled bowl structure.
Lire la suite »
BEYOND LOCAL: Toronto Blue Jays unveil new Rogers Centre renovation plans for 100 levelDesigned specifically for baseball viewing, the renovations will have all the seats oriented toward the infield, improved sightlines with less obstruction, and new seats closer to the field as a result of the remodelled bowl structure.
Lire la suite »
B.C. business travel returning but below pre-pandemic levelFear of missing out prompts some to go to gatherings.
Lire la suite »
Tron retraces to a level that the bulls must defendTRON had a bearish market structure on the daily price chart, but TRX buyers had some hope of driving another rally toward $0.086.
Lire la suite »