$AVAX Avalanche .....🚀🚀
AVAX
$35.16
is consolidating in a downtrend, indicating that the bulls are trying to arrest the decline. #AVAX/USDT daily chart. Source: TradingView
The zone between $32 and $27 is likely to act as a strong support. If the price rebounds off the support zone with strength, the AVAX/USDT pair could rally to the downtrend line. Buyers will have to clear this obstacle to signal that the correction may be over. The pair may then attempt a rally to $50.
Contrary to this assumption, if the price turns down and breaks below $27, it will indicate that the bears have seized control. That could accelerate selling and sink the pair to $20.
