$AVAX broke below the 61.8% Fibonacci retracement level ($18.62) and trades under all key moving averages (7-day SMA: $19.81; 30-day SMA: $23.73).
👉The MACD histogram turned positive (+0.205) but remains below the signal line, suggesting weak bullish divergence.
👉Oversold but no reversal: RSI at 36.47 hints at exhaustion, but bearish volume dominance (24h spot volume +19.28% to $633M) delays recovery.
👉 Next support: $15.11 (78.6% Fib level) if selling persists.
👉Institutional caution: Open interest in AVAX derivatives dipped 4.44% weekly, reflecting risk-off positioning.
