The recent long liquidation of $76.33K at $38.165 for $AVAX shows how volatile the crypto market can be. A liquidation means traders with long positions were forced to sell due to price drops, which can lead to more downward pressure on the price.

What’s Next for $AVAX.

Given this liquidation, here’s what could happen:

1. Price Action.

After such liquidations, prices often experience a short-term dip, as selling pressure increases.

If $AVAX holds support around current levels, we might see a recovery.

2. Key Support Zone.

Look for $AVAX to find support near $36.00 to $37.50. If it holds this zone, it may start to recover and move up.

3. Resistance and Target Zone.

The next resistance lies around $41.50. If the price breaks above this level, we could see further upside.

A strong target for the upcoming bullish move is $45.00 or higher, but it depends on the overall market conditions and how the support holds.

Buy Zone.

Look to buy $AVAX around $36.00 to $37.50.

This range provides a good entry point if the price starts to show signs of bouncing back after the liquidation.

Target.

$41.50 to $45.00. If the market sentiment is positive, this could be your range to take profits.

Look for resistance levels around $41.50 for any signs of reversal.

Stop Loss.

Keep your stop loss around $34.00 to $35.00.

If $AVAX falls below this level, it could signal further bearish momentum, and it’s safer to exit the position.

Why this Matters.

The liquidation event indicates that there are a lot of traders betting on the price going up. If the market doesn’t recover, we may see additional sell-offs. Therefore, keeping an eye on support levels is key to managing risk.

Conclusion.

For now, $AVAX is at a critical point. If it holds support, there could be a good opportunity for long trades with targets of $41.50 and $45.00.

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