🔺 $AVAX: I’M NOT BUYING THE NEW-HIGH NARRATIVE YET A lot of people are turning bullish on $AVAX after the recent move and expecting it to eventually trade above its 2024 high. I see it differently. AVAX has already printed a lower low compared with 2022, while the long-term descending trendline is still intact. The levels I’m watching are: $16.4 → $26 → $36 I can absolutely see a strong recovery, even a move into the $40-$45 area. But unless $AVAX can reclaim the long-term trendline and eventually break above the $54 region, I would still treat that move as a macro lower high, not the start of a new ATH trend. Sometimes a big rally is still just a rally.
Giannis AndreouShare
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