Let's sit back comfortably, relax and have a coffee while observing the movement of AVAX market chart regardless of all biased information and news frenzy around us, including the current Russia-Ukraine war news. It is a fundamental philosophy to the true structural price action method that to be really simple and easy only focusing on the plain chart by emptying mind from any thinkings on surrounding fuss news that were assumed affecting the market. It is not necessary to think hard on indices of GDP, NFP, CPI, PPI, FED, etc. as well as news impact from the macroeconomic, political environment, emerging market fundamentals, technological innovations, interest rate differentials, etc. What is meant here, of course, this is technical analysis, where the detailed effects of all past indices and news events were plotted already into the chart historical data, and patterns of the ongoing momentum and estimation of the expected market movement could be assessed from its structures, directions (flows), and signals. It's like in a duel, parry, hit, and kick quickly and precisely following the structures, directions, and movement signals of the opponent's moves. It is not necessary to think hard about the opponent's personal recent news and events because they were lagged and you would most likely be hit first and badly lost.
Okay guys back to AVAX, it looks like AVAX is still in a range-bound between 79 and 56 until the end of April 2022. After that, it is most likely that AVAX making a reversal move from its swing point at 56 and continue to walk up impulsively breaking out 129 level on November 2022. Swing point 56s in the red zone as indicated in the AVAX chart below is the strongest value area at the moment because this 56 resistance line had been re-tested on February 2021 and broken out on September 2021 and now flipped to super-strong support.
Investment idea: It's still good to invest in AVAX during the current position, but it's better for investors to wait for AVAX position approaching 56 and add more capital. Anyway, we have to be more patient to wait a bit longer because this Ethereum challenger seems to crawl quite slowly.
Please take a look at the following AVAX/USD chart as the basis for my technical analysis of the structural price action method, which is quite simple but very logical. The chart is taken from Tradingview.com on February 28th, 2022.
Disclaimer: This article is based on my research and personal opinion. This is not an order or an invitation to do. Investing in the cryptocurrency market provides both benefits and risks. Every investment decision is the responsibility of the individual who made the decision. Please invest according to your personal risk profile.
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