$AVAX

It broke below the 20-day EMA ($47.71), indicating a lack of demand from bulls.

If the price remains below the 20-day EMA, AVAX/USDT could fall to the 50-day SMA ($39.52). This is a critical level for buyers to defend because a break below it will suggest that the break above $51 may have been a bull trap.

Instead, if the price rises and surpasses the 20-day EMA, it will signal buying at lower levels. The bulls will try to strengthen their position by pushing the price above $51 and then $56. If they manage to do this, the pair could travel towards $65.