Technical Analysis of AVAX/USDT (Daily Chart)

A potential Evening Star candlestick pattern has formed at the top, which is a classic bearish reversal signal. It suggests that bullish momentum is weakening.

The price touched the upper Bollinger Band and reversed, indicating a Bollinger Band reversal pattern — a sign that the asset may be overbought in the short term.

There is a support zone between $23.00–$23.30, which coincides with the 25-day EMA and the middle Bollinger Band, making it a strong technical level.

If this level fails to hold, the next potential support area is near $21.00, as indicated by previous consolidation and the lower Bollinger Band.