Avax, Fetch.ai And Quant Looking To Reverse

AVAX ANALYSIS: OCTOBER, 2021

Market Structure:

Avax is the cryptocurrency of an open, programmable and decentralized blockchain protocol used to pay fees. Here’s the market structure of Avax.

Avax is trading at $63.59. The market structure of Avax is still bullish amidst weakness in the entire market. This is so because Avax has not paused its trend and continues to make higher-highs and higher-lows on the daily chart. The coin must defend the zone between $60.88 to $62.51 in order to sustain the momentum. Else, on the break of the structure, the coin will turn bearish like the rest of its peers in the short-term.

On the hourly chart, the coin is forming a descending triangle along a dynamic resistance. It is finding demand in the range of $61.69 to $62.51. Thus, the importance of this zone is yet again revealed prominently. In order to gain further momentum, the coin must break $66.76 on the upside with above average volumes and rising 20-day exponential moving average.

Avax analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price weakness for the coin in the short-term. The hourly RSI is below the neutral region. It stands at 40.96 and has the potential to go higher.

The MACD is below the signal line, hinting at a possible breakdown of the demand zone shortly.

Avax analysis
Source: tradingview

Conclusion:

On the breakout and close above $66.93, $68.83 and $70 are the targets on the upside.

On the breakdown and close below $63.13, $61.75 and $59 are the targets on the downside.

FETCH.AI ANALYSIS: OCTOBER, 2021

Market Structure:

Fetch.ai is a decentralized network which uses an autonomous ledger system to provide a seamless experience to users. Here’s the market structure of Fetch.ai.

Fetch.ai is trading at $0.7274. The market structure of Fetch.ai is bearish as the coin failed to close above the previous structure point of $0.9543. A huge support exists between $0.6611 and $0.6795 which must be defended at all costs. Below the lower end of this channel, the coin will make a new lower-low structure. On the other hand, immediate resistance is positioned at $0.8864. The volumes are dangerously low thus a reversal is not feasible.

On the hourly chart, the coin is consolidating in a tight range, $0.7360 acting as a resistance and $0.7133 as the immediate support. The break on either side will determine the short-term trend of Fetch.ai. The flat 20-day exponential moving average also indicates indecisive consolidation.

Avax analysis Fetch.ai
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price strength for the coin in the short-term. The hourly RSI is above the neutral region. It stands at 51.67 and has the potential to go in either direction.

The MACD is flat, almost in line with the signal line confirming the consolidation in a tight range.

Avax analysis Fetch.ai
Source: tradingview

Conclusion:

On the breakout and close above $0.7360, $0.7533 and $0.7754 are the targets on the upside.

On the breakdown and close below $0.7133, $0.7000 and $0.6910 are the targets on the downside.

QUANT ANALYSIS: OCTOBER, 2021

Market Structure:

Quant is the world’s first interoperable blockchain provider, designed to execute multiple functions instantaneously. Here’s the market structure of Quant.

Quant is trading at $286.6. The market structure of Quant is bearish despite the glorious performance witnessed year-to-date. The coin has surged over 100% before falling since Mid-August. Quant has made a lower-high at $336.9 after failing to break $395 on the upside. Now it has to sustain above $266 in order to avoid a further downside due to the lower-low trajectory. However, the inflow of sufficient bullish volumes must be witnessed for any reversal to be seen. Else, the sideways to negative movement will continue.

On the hourly chart, the coin is amplifying the lower-high and lower-low structures. The coin must close above the previous lower-high structure point of $293.4 in order to see short-term reversal. On the other hand, it must defend the support of $265 in order to avoid further weakness.

Quant analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price strength for the coin in the short-term. The hourly RSI is above the neutral region. It stands at 51.58 and has the potential to go higher.

The MACD is below the signal line, indicating that there may be some upside left in the coin.

Quant analysis
Source: tradingview

Conclusion:

On the breakout and close above $293.3, $305 and $322 are the targets on the upside.

On the breakdown and close below $276, $265 and $259 are the targets on the downside.