$AVAX

AVAX Price Analysis

AVAX has recently been really 'hard to describe', even the moving averages cannot be broken, indicating that the bears are crazy selling at highs, directly giving no face to the bulls!

From the current trend, the 20-day moving average ($41.67) is sloping downwards, and the RSI is in a downward trend, which indicates that the bears are still firmly in control, completely holding the initiative. In the short term, the support level is at $35.35, if this level is lost, the next target is $33.50, and if it breaks below this, it could directly slide to $30.81, which would be a straight drop.

However, there is always a turning point in the market. As long as the bulls can strongly break through and hold above the 20-day moving average, there may be a rebound. The short-term target can first look at $41, then $46.70 (61.8% Fibonacci retracement level). If these two levels are broken, the bears may start to 'panic', and the short covering may push the price even higher.

Short-term Bearish Strategy: If the price falls below $35.35, consider going short in line with the trend, targeting $33.50, with a stop loss set above the 20-day moving average.

Bullish Positioning Strategy: If it can break through the moving average resistance at $41.67, consider going long, targeting $46.70. The stop loss should be set below the breakout point.

In summary, both sides are currently in a tug-of-war, brothers just need to keep an eye on the key levels, don't be impulsive, opportunities will always come!