๐จ AVAX at the Crossroads: Breakout or Breakdown? ๐ฅ๐๐
๐น Current Price: $25.00 USDT
AVAX is hovering near critical levels on the weekly chart, following months of consolidation. The next few candles could define the mid-term trend โ are bulls ready, or will bears take over?
๐ Chart Highlights
๐ Long-Term Downtrend from 2021 highs finally losing momentum.
โธ๏ธ Consolidation Zone from late 2022 to mid-2024.
โ "Positive Retest" forming near $28.52 โ $32.00 USDT, hinting bullish potential.
๐ Low Volume during range = indecision.
๐ Resistance Levels
$28.52 USDT โ Immediate test level. Bulls must reclaim it! ๐
$32.00 USDT โ The top of the "Positive Retest" zone. Strong resistance. ๐งฑ
$60.44 USDT โ Key macro resistance zone. A breakout here would flip the script. ๐
$98.00 โ $106.00 USDT โ Historic supply zone. Long-term target. ๐ฏ
๐ก๏ธ Support Levels
$24.67 USDT โ Immediate support. Price is dancing on it. โ ๏ธ
$22.48 USDT โ Multi-touch support. Vital for bulls to hold. ๐จ
$17.69 USDT โ Strong historical demand zone. A breakdown magnet if weakness continues. ๐ณ๏ธ
๐ Potential Scenarios
โ Bullish Breakout:
Break above $28.52 โ $32.00 USDT = ๐ signal.
Target: $60.44 USDT ๐ฅ, then eyes on $98 โ $106 USDT for the long-term flip.
Confirmation = weekly close above $32.00 + rising volume. ๐
โ ๏ธ Bearish Breakdown:
Failure to hold $24.67 or $22.48 = ๐
Target: $17.69 USDT, possibly prolonged sideways or deeper retrace.
Breakdown confirmation = high volume close below $22.48. โ
๐๏ธ Key Watchpoints
๐ Battle Zone: $28.52 โ $32.00 ๐ง
๐งฑ Support Line: $24.67 / $22.48 ๐ด
๐ Volume Surge = Real move confirmation ๐ฅ
๐ฏ๏ธ Weekly Candle Close = Deal maker or breaker ๐งพ
