$AVAX Technical and Fundamental Analysis – Short-Term Outlook

General Technical Condition:

#AVAX has lost momentum after the recent rise in the last few weeks, pulling back from the $22 level. Currently, the price is trying to stabilize around the $20 support. This level is critical both psychologically and technically.

Support and Resistance Levels:

• Supports: $20 – $18 – $15.5

• Resistances: $22 – $23.1 – $25

If the price maintains above $20, upward movements may strengthen. However, if this level breaks, there is a risk of a pullback first to $18 and then to the $15.5 range.

Possible Scenarios:

• Positive scenario: If a strong breakout occurs above $22, it is possible for the price to rally towards the $25 levels.

• Negative scenario: If the $20 support breaks, selling pressure may increase and the price may fall below $18.

Current Developments:

• The applications for a spot ETF for AVAX indicate increased institutional interest. Although it has not yet had a serious impact on the price, it may reflect positively in the medium term.

• The new update allowing transactions without gas fees for Avalanche’s Core Wallet may enhance user experience and increase network adoption.

Conclusion:

AVAX is currently at a decision stage. The $20 support is critical, and if a strong upward movement does not come from here, the risk of a decline may continue. Investors should closely monitor both technical breakout levels and news flow regarding ETFs and technological developments.