#AVAX利好短时上涨6.4% $AVAX rose 6.78%, while OI increased 15%. These newly opened positions may be more worth watching than the price from here.
24-hour futures trading volume was $317 million. The price surged from around $8 to 9.01, then pulled back to 8.60. The funding rate remains negative, indicating shorts are still paying holding costs, but that alone doesn't mean a short squeeze is guaranteed.
This trade leans long for a simple reason: 4-hour volume surged as the price broke above the previous consolidation zone around 8.40, and it has temporarily held above it after pulling back.
8.55–8.60 can be watched as a long entry zone, with a stop-loss at 8.42. First target: 9.01, then 9.17. Entering at 8.60 gives a risk-reward ratio of about 2.28 to the first target.
If the price falls back to around 8.40, the earlier breakout will need to be reassessed.
It's no surprise that the price hasn't held above $9. The key is whether this pullback gives back all the gains from the breakout. #WCTCS9
24-hour futures trading volume was $317 million. The price surged from around $8 to 9.01, then pulled back to 8.60. The funding rate remains negative, indicating shorts are still paying holding costs, but that alone doesn't mean a short squeeze is guaranteed.
This trade leans long for a simple reason: 4-hour volume surged as the price broke above the previous consolidation zone around 8.40, and it has temporarily held above it after pulling back.
8.55–8.60 can be watched as a long entry zone, with a stop-loss at 8.42. First target: 9.01, then 9.17. Entering at 8.60 gives a risk-reward ratio of about 2.28 to the first target.
If the price falls back to around 8.40, the earlier breakout will need to be reassessed.
It's no surprise that the price hasn't held above $9. The key is whether this pullback gives back all the gains from the breakout. #WCTCS9
