๐ Daily TA: Travala (AVA/USD) | 12-10-2021
Hodl, dear members of LeoFinance!
Today I would like to comment on the price chart of Travala.com.
In the weekly chart (1W), AVA/USD formed a candlestick similar to Shooting Start - a common trend reversal candlestick formation that usually occurs at the top of a price increase: As can be seen from the chart, after the Shooting Stare, a correction has started. I am curious about when this correction will end.
If we look at the daily chart (1D) of AVA/USD the situation is very interesting. Right now, the price is consolidating at the 30-day Moving Average (MA 30), the 90-day Moving Average (MA 90), and the 360-day Moving Average (MA 360): Theoretically, these three MAs should provide enough support for the price temporarily. So, I expect a price consolidation in the near future. However, still, there is no guarantee that these three MAs will put an end to the correction in the weekly chart. So, let's wait and see!
To be continued ...
As of the time of writing, one AVA costs $2,78 on the Binance crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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