$AVAX

It attempted to resume the up-move on December 8, but the bears pulled the price back below the breakout level at $51 on December 9.

If the sellers sustain the price below $51, the AVAX/USDT pair could drop to the 20-day EMA ($46.18). A strong bounce off the 20-day EMA will signal buying on dips. The bulls will then make one more attempt to push the pair above $56. If they do so, the pair could rally to $60 and later to $65.

Alternatively, a break and close below the 20-day EMA will suggest that the bulls are losing their grip. The pair could then drop to $38.