📊 $AVAX

/USDT 4H Chart Analysis

Current Price: 24.34 USDT (-0.21%)

AVAX has recently shown excellent results, increasing by 17.81% over the past 7 days and by 34.10% over the last month! 📈 Here are the details:

🔹 Price Movement: After a strong rally from 19.00 to a 24-hour high of 26.02, AVAX retraced to 24.34. This looks like a healthy correction after a big move.

🔹 Volume: Volume sharply increased during the rally (May 9-10), showing strong buying interest, but has slightly decreased on the retrace — normal behavior.

🔹 SMA: The price is above the short-term SMA (likely 20-period), and the SMA is sloping upwards, confirming a short-term bullish trend.

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

What’s next?

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

🔴 Bearish Scenario: A drop below 23.50 could trigger a deeper correction down to 22.00.

Despite recent gains, AVAX is still down 29.16% over 90 days and 29.02% over the last year, so it is recovering from a longer-term downtrend.