Coinbase Pro from Coinbase Global (Nasdaq :) lists Avax on.
The central theses
- Coinbase Pro is preparing to make the Avax token of Avalanche available for trade.
- Avax still has to react to the news. The asset still consolidates within a narrow bandwidth.
- A decisive 4-hour candlestick closure outside the range of $ 69 to $ 62 should determine where Avax leads next.
The native token of Avalanche will soon be accessible to a wider audience thanks to a coinbase pro list.
Coinbase Pro for listing AVAX
in a blog entry announced that it has activated incoming Avax transfers. The company confirmed that it would list the native tokens of Avalanche on September 30th if "the liquidity conditions are met".
The order books AVAX-USD, AVAX-ISDD and AVAX-EUR are introduced in three phases: Post-Only, Limit-Only and Full Trading. The stock exchange emphasized that it reserves the right to suspend trade if the new order books do not correspond to their "assessment for a healthy and orderly market" at some point.
Despite the importance of the message, AVAX does not yet benefit from the so-called " Coinbase effect " in which the token prices Avax consolidates on the listed stock exchange.
avalanche approaches outbreak
The price movement of AVAX Last week seems to have led to the formation of a symmetrical triangle on the 4-hour chart. Together with the swing highs, a descending trend line can be drawn, while together with the swing depths, an increasing trend line has developed.
Since the native token from Avalanche approaches the apex of the triangle, this indicates that an increase in volatility is imminent. The measurement of the height of the y-axis of the technical pattern adds to the breakout point forecast a price movement of 31.7% in both directions.
In view of the ambiguity of Avax, it is crucial for traders to wait for a decisive 4-hour candlestick closure outside the range of $ 69 to $ 62 before they enter into a position.
If the asset overcomes the overhead resistance, it could rise to a new all-time high of $ 93. However, a loss of the level of support of $ 62 could lead to a correction towards $ 41.
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