Current Market Structure
AVAX/USDT is trading at $48.68 with a +5.32% increase. The price has broken above a significant resistance zone, indicating strong bullish momentum.Key Price Levels
Major Resistance: $50.00 (psychological level)
Minor Resistance: $49.00 (recent high)
Major Support: $40.00 (previous resistance turned support)
Minor Support: $46.00 (immediate support)
Technical Indicators
RSI (14): At 65.31, indicating bullish momentum but approaching overbought territory
MACD: Positive momentum with MACD line above the signal line
Volume Profile: Increased trading volume supports the breakout
Market Outlook
AVAX shows strong bullish momentum with a breakout above key resistance levels. The current trend suggests potential for further gains if the price can maintain above $50.00. Watch for any signs of overbought conditions that might lead to short-term corrections.