📊 $AVAX /USDT 4H Chart Analysis 🚀

Current Price: 24.34 USDT (-0.21%)

AVAX has been on a tear lately, up 17.81% in 7 days and 34.10% over the past month! 📈 Here’s the breakdown:

🔹 Price Action: After a strong rally from 19.00 to a 24H high of 26.02, AVAX pulled back to 24.34. This looks like a healthy correction after a big move.

🔹 Volume: Volume spiked during the rally (May 9-10), showing strong buying interest, but it’s tapered off slightly on the pullback—normal behavior.

🔹 SMA: Price is above the short-term SMA (likely 20-period), and the SMA is sloping up, confirming the short-term uptrend.

🔹 Support/Resistance: Support at 23.00-23.50 held before the breakout. Resistance at 26.00 rejected the price, leading to the current dip.

What’s Next?

🟢 Bullish Case: If AVAX holds above 24.00 and breaks 26.00 with volume, we could see 27.00-28.00 next.

🔴 Bearish Case: A drop below 23.50 might trigger a deeper correction to 22.00.

Despite the recent gains, AVAX is still down 29.16% over 90 days and 29.02% over the past year, so it’s recovering from a longer downtrend. Keep an eye on volume and that 24.00 level! 👀