📊 Technical Analysis - AVAX/USDT (1D)
📉 Overall Trend:
AVAX is in a downtrend, trading below both the major moving averages.
There is strong support at 24.99 - 23.53, which has been holding the price up recently.
📈 Moving Averages (EMA):
EMA 7: 25.888 (Immediate Resistance)
EMA 14: 27.759
EMA 21: 29.485
EMA 50: 33.576
EMA 100: 34.761
EMA 200: 31.520
🔥 Conclusion: The price is below all the EMAs, indicating a bearish market.
📉 Technical Indicators:
📊 Stochastic RSI:
25.57 and 15.07, indicating that the asset is close to oversold and may seek a rebound.
📊 RSI (Relative Strength Index):
32.73, close to the oversold zone.
📉 MACD:
MACD negative (-0.262) and below the signal line, reinforcing the weakness at the moment.
🔍 Important Levels:
Strong support: 24.99 - 23.53
Strong resistance: 27.75 - 29.48
Low target: 23.50 - 20.00 if support is lost.
High target: 27.75 - 29.48, if resistance is broken.
🎯 Possible Scenarios:
📌 Bullish
The price needs to hold support at 24.99 and break 25.88 to reach 27.75.
If it breaks 29.48, it could reach 33.57.
📌 Bearish
If it loses 23.53, it could accelerate the fall to 20.00 - 18.00.
MACD still does not show a reversal, which maintains the downside risk.
📢 Conclusion:
The asset is weak, but at a critical support. There may be a rebound in the short term.
MACD and RSI still do not indicate a reversal, but Stoch RSI points to a possible recovery.
If it loses 23.53, the fall could intensify!
Recommendation: Watch for resistance breakouts for safer entries.