AVAX Buy analysis
- Confidence
- 75
- Entry
- 16.90
- Target
- 17.50
- Stop
- 16.65
- Published
- 2026-05-20
Summary
Bullish reversal setup on AVAX/USDT at the key $16.80 - $16.90 support zone, targeting a bounce back towards the $17.50 resistance.
Trend
The asset has been in a short-term downtrend on the 15-minute chart, retracing from the swing high near $17.76 down to the key support level of $16.80. This support level is expected to hold, initiating a bullish bounce.
Patterns
A potential double bottom or corrective wave completion is forming at the $16.80 support zone, as projected by the hand-drawn path showing a recovery trend.
Indicators
The price is showing strong signs of exhaustion on the sell side as it touches the key psychological support of $16.80, with a bullish reaction candle currently forming.
Strategy
Enter long at $16.900, with a stop loss below the support zone at $16.650. Target the primary resistance level at $17.500 for a healthy risk-to-reward ratio.
For reference only, not investment advice. Trading decisions are your own.