$AVAX

Break above the resistance line of the ascending channel pattern on November 22, but the bulls are facing selling at higher levels.

The AVAX/USDT pair could retest the breakout level of the channel. If the price bounces off the resistance line strongly, it will indicate that the bulls have flipped the level to support. The pair may then attempt an up move towards $50.

Alternatively, if the price breaks below the resistance line, it will suggest that the bulls are losing control. The pair may drop to the 20-day EMA ($34.34), attracting buyers again.

The pair is witnessing a tough battle between the bulls and the bears near the 20-EMA. If the price rises above the 20-EMA, the bulls will again attempt to push the pair towards the psychological level of $50.

Meanwhile, the bears likely have other plans. They will try to sell the rallies and pull the pair below the 50 SMA. If successful, the pair could drop to $32 and later to $31.