$AVAX
AVAX Price Analysis: Bears 'Dump', Bulls 'Struggle' to Fight Back
Brothers, AVAX's recent trend can be described as 'full of twists and turns', with a fierce battle between bulls and bears. Let's quickly take a look at its key points and possible operational opportunities ahead!
On January 6, AVAX barely managed to stand above the 50-day moving average (43.38 USD), but this breakthrough turned out to be 'a flash in the pan'.
On January 7, the price plummeted significantly, falling back below the moving average, indicating that the bears ruthlessly dumped during the rebound, directly sending the bulls 'back home'.
Next, the bears have a clear goal: to push the price down to the strong support area of 35 USD to 33.60 USD.
The support area is key; can the buyers hold their ground?
Currently, 33.60 USD is the last line of defense for the bulls. If this level holds and rebounds, we might see AVAX oscillating between 33.60 USD and 45 USD.
Support rebound opportunity: If the price rebounds from the support area and breaks above the 20-day moving average (39 USD), the bulls may gain some initiative in the short term. In a volatile market, focus on support and resistance levels for trading.
Risk of breaking support: If 33.60 USD is breached, the bears will push the price toward 30 USD, which may trigger a larger panic sell-off.
Watch 33.60 USD support: If a stabilization rebound signal forms here, consider trying to enter long positions at lower levels, targeting around 39 USD or even 45 USD.
If it breaks below 33.60 USD: The bears may further suppress, consider opening short positions in line with the trend, targeting 30 USD.
Brothers, AVAX is currently in a critical 'tug-of-war' phase, and in the short term, operations should revolve around support and resistance levels, prioritizing stability and avoiding chasing highs and selling lows. Keep a close eye on this key point at 33.60 USD; can the bulls hold it? Let's wait and see!
Seize the opportunity, plan ahead, and don’t forget to show off when you make a profit!