đ„ Avalanche Under Pressure: Is This the Calm Before the Storm? đ„
$AVAX has dipped slightly to $23.46, down 0.68% as we witness some bearish momentum creeping in. The 15-minute chart reveals the price struggling under short-term moving averages (MA 7, MA 25) at $23.56 and $23.58, while the 99 MA at $23.75 looms as a major resistance level. đŹ
What's concerning is the lack of strong buying volumeâonly 26.5K on the most recent candleâsignaling weak support from bulls. Combine that with the volatility indicator sitting at 33.22%, and it seems we could be in for more downside action. đ
If AVAX breaks below $23.40, expect a more significant decline as there is no strong floor beneath that level. Keep an eye on the next few candles; a bounce back isn't out of the question, but for now, caution is key. đš
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