AVAX TECHNICAL ANALYSIS 23/9
The AVAX/USDT pair has declined from the overhead resistance at $29 and reached the 20 EMA. This is a crucial level that the bulls must defend if they want to maintain the positive momentum. A strong bounce from the 20 EMA could lead to a retest of the overhead resistance.
On the other hand, if the price remains below the 20 EMA, it would indicate that the bulls are losing control. The pair could then decline to the 50 SMA. Buyers are expected to defend the moving averages strongly.