$AVAX

It has surged towards $51, where the bears are likely to mount a strong defense.

If the price turns down sharply from $51, the AVAX/USDT pair could drop to the 20-day EMA ($40.19). The rising 20-day EMA and the RSI in the overbought zone indicate an advantage to the buyers. A strong bounce off the 20-day EMA improves the prospects of a rally above $51. This could push the pair towards $60.

The sellers will have to pull the price below the 20-day EMA to stage a recovery. The pair could then drop to $38, which should act as a strong support.