AVAX Crypto Crash Alert: Will It Hold $25 or Plummet Further?

As of the latest 4-hour chart analysis, the #AVAX crypto is trading at $25.91, showing a clear downtrend in recent sessions. The 9 EMA is at $26.68, and the 20 EMA is slightly higher at $27.40, indicating a bearish crossover with the price trading below both moving averages. This scenario typically signals bearish sentiment among traders.

The Avalanche price has seen a series of lower closes, with the recent price action struggling to hold above the key support level of $25.64. Should this level fail to hold, the next critical support to watch is $25.34, followed by a more significant floor at $23.86. These levels are crucial for bulls to maintain to avoid further downward pressure.

On the upside, the $AVAX crypto faces immediate resistance at $27.34. Breaking above this level could pave the way towards the next resistance at $27.81, and if the bullish momentum continues, $28.39 would be the subsequent target. However, the overall technical outlook remains bearish unless these resistance levels are convincingly breached with strong volume.

The MACD indicator shows increasing bearish momentum, with the MACD line well below the signal line and a consistently negative histogram. This indicates sustained selling pressure and a lack of bullish divergence. Meanwhile, the RSI is currently at 31.13, which is in the oversold territory. This could potentially lead to a short-term bounce if buying interest increases, but it is not a strong enough signal on its own to suggest a reversal. #Avalanche #altcoins
The full analysis and trade strategy were originally posted on ecoinimist.com.