AVA plummets 15.81%, after a deep drop is there a good opportunity to buy?
AVA/USDT today fell sharply to $1.1524, with a decline of up to 15.81%, reaching an intraday low. The trading volume increased to 7.66 million, with market sentiment showing significant fluctuations, and bearish forces dominating the short-term trend.
Technical Analysis:
• RSI(6) is 23.85, having entered the oversold range, indicating a technical rebound demand.
• The MACD indicator has formed a death cross, and the bearish trend has not diminished, with limited rebound strength.
• The moving averages MA(7) and MA(25) create strong resistance, with clear upward resistance in the short term.
Key Levels:
• Support Level: $1.10
• Resistance Level: $1.37
Operational Suggestions:
• Short-term Strategy: Aggressive investors can try to gradually build positions near $1.15, setting a stop-loss below $1.10, with a target of $1.30.
• Conservative Strategy: Primarily wait and see, waiting for market sentiment to stabilize before intervening, to avoid chasing high or failing to catch the bottom.
Market Outlook:
AVA is currently in a strong bearish trend, but the oversold state may provide a brief opportunity for a rebound. Long-term value investors should pay close attention to layout opportunities after technical corrections.
Do you think AVA will rebound this week or further decline? Feel free to share your trading strategy!