Avalanche ($AVAX ) - the current price is around $22.76 - $24.35 USD.

In the last 24 hours, $AVAX has experienced a significant decline of about -4% - -5%. The 24-hour trading volume remains substantial. Recent price movements indicate a strong bearish trend in the short term. $AVAX has broken through previous support levels.

Support and resistance:

Support: The nearest support is likely in the range of $22.70 - 23.50. A break below this level may lead to further declines.

Resistance: The nearest resistance is around 24.60, while stronger resistance levels are likely much higher, in the range of $26 - 28.

Near-term forecasts and outlook:

• Short-term bearish/neutral: Considering the significant price drop and bearish momentum, the near-term outlook is cautious. The price may consolidate in the range of $22.70 - 24.60, but the risk of further declines remains in the event of a break below support levels.

• Importance of support: The range of $22.70 - 23.50 is critical. If AVAX breaks it with high volume, further declines to 20 or even lower may occur, aligning with some bearish forecasts for 2025 lows.