AVAX recently peaked at $27.38, forming a local top before correcting to the current level around $23.55 (-3.92%). Here's what the indicators suggest:
Bollinger Bands: Price has broken below the middle band (MB: $25.07), approaching the lower band (DN: $23.09), signaling increased selling pressure.
Stochastic RSI: Currently very low (1.29), indicating AVAX is heavily oversold — a potential bounce could be near, but confirmation is needed.
MACD: Bearish crossover and histogram turning negative; momentum favors sellers for now.
Volume: Decreasing volume suggests weakened bullish interest during the recent drop.
🔎 What’s Next?
If AVAX holds above $23.00 support zone, a short-term rebound may occur.
Breakdown below $23.00 could lead to a deeper correction toward $21.40 or even $19.30.
Upside potential only resumes if price breaks back above $25.50 resistance with strong volume.