🔍 Analysis/USDT$AVAX (Daily Frame) – Is there a chance for a rebound?

📌 The trend has been clearly downward since the peak at around $70.

The price is moving within a descending channel and has not broken it yet.

📌 The strong demand zone at $17 - $18 currently provides support.

✅ Current demand zone (strong support):

Between $16.5 - $18.5 where previous rebounds occurred.

The price is currently reacting with this area, which may lead to a rebound.

🔻 Nearby supply zone (strong resistance):

Between $45 - $55 where significant selling pressure occurred.

Any strong rise may face resistance there.

📈 Positive signals:

The SQZMOM indicator shows positive divergence (the price is falling while the indicator is rising).

The price is approaching a strong demand area, which may increase the likelihood of a rebound.

Selling momentum has started to weaken.

📉 Negative signals:

The overall trend is still downward, and the blue trend has not been broken.

There is no strong breakout of resistance levels, indicating continued risk.

If it breaks $16.5 and closes below it, we may see a drop to $14 or lower.

📌 Potential scenarios

🔹 Positive scenario (upward rebound 🚀):

Entry: After breaking the downward trend and closing above $20.

First target: $25

Second target: $30

Stop loss: Daily close below $16.5.

🔻 Negative scenario (continuation of the decline 🔻):

If it breaks $16.5, the next support will be $14.

At that point, strong reversal signals should be awaited before considering buying.