The Trust Layer for Market Analysts

The analysis focuses on AVAXUSD, using Elliott Wave theory on the 4-hour timeframe. The analyst identifies a potential ABC corrective structure, noting that while a 1-2 setup was initially considered, the current price action suggests a three-wave move, potentially forming an ending diagonal. Key support is at $23.90. The video mentions that previous swing highs have been broken, further confirming the start of a third wave. The primary target, based on a 138% extension of the initial wave, is approximately $44.31. A secondary level of resistance may be found at $35.88 based on Fibonacci levels. The analyst suggests caution and sees momentum is upward. It is needed to keep holding 23.90 to get to 44.31.