📉 $AVAX /USDT 4H Chart Analysis 📊
Price: 19.46 USDT (-2.89% today)
AVAX has been in a steep downtrend since April 25, dropping from 23.00 to 19.46—a 15.39% decline in just 10 days. This follows a brief 27.78% rally from 18.00 earlier in April.
Key Observations:
Support/Resistance:
Price broke below the 20.00 support, with the next level at 18.00. Resistance at 20.24 (24H high) and 21.00.
Volume: High selling pressure with 1.38M AVAX (27.32M USDT) in 24H volume, showing panic selling.
SMA: Price is below the 20-period SMA, confirming the bearish trend.
Performance: YTD down 47.74%, with 30-day gains of 30.99% wiped out by recent losses.
Outlook: Bearish momentum dominates. A hold above 19.00 might see a bounce to 20.00-20.24, but a break below could test 18.00. Watch for reversal signs or further breakdowns! ⚠️
