#Write2Earn
Here’s a detailed technical analysis of **Avalanche (AVAX/USDT)** on the **1-hour timeframe
1. **Key Resistance Levels**:
- **Supply Zone 1**: $35.38–$34.83 (immediate resistance). A break above this zone could signal short-term bullish momentum.
- **Resistance Zone 1**: $35.45–$35.24. Closing above this range may target the 0.382 Fibonacci retracement level at **$33.65**.
2. **Support Levels**:
- **0.882 Fibonacci**: $35.06 (critical support). A break below this level could trigger further downside toward:
- **0.618 Fibonacci**: $34.32.
- **0.50 Fibonacci**: $33.99.
- **Bullish Fair Value Gap**: $35.07–$34.45. This zone may act as a temporary buffer against bearish pressure.
3. **Price Action & Momentum**:
- AVAX is currently oscillating between resistance and support, with **bearish pressure** evident from unfilled Fair Value Gaps (FVGs) .
- A **volume spike (+180%)** was noted in recent trading, indicating heightened activity but no clear directional bias yet .
4. **Indicators to Watch**:
- **Exponential Moving Averages (EMAs)**: The 21 EMA is acting as dynamic resistance. A reclaim above this level could shift sentiment.
- **Volume Profile**: Sustained high volume on a breakout/breakdown will confirm the next move.
5. **Trading Scenarios**:
- **Bullish Case**: Break above $35.45 with retest confirmation → Target $33.65 (0.382 Fib).
- **Bearish Case**: Breakdown below $35.06 → Target $34.32–$33.99 (0.618–0.50 Fib levels).
**Summary**
The 1-hour chart suggests **neutral-to-bearish** conditions unless AVAX breaks above $35.45 decisively. Traders should monitor:
- **Resistance**: $35.38–$35.45.
- **Support**: $35.06 (0.882 Fib) and $34.32 (0.618 Fib).
- **Volume**: Confirm breakout/breakdown with sustained volume.
