Technical Analysis of AVAX/USDT (1D Chart)
📉 Current Price: ~$21.67
📉 24h Change: −5.59%
📊 Volume: 709.82K USDT
📏 Indicators:
EMA 25: $22.38
Bollinger Bands (25 SMA):
Upper: $25.92
Middle (SMA): $22.33
Lower: $18.74
Key Observations:
Break Below EMA 25 & Middle Bollinger Band:
The price has closed below both the EMA 25 and the middle Bollinger Band, confirming a shift in momentum to the bearish side.
Failed Support Retest:
The $22.30–$22.40 zone, which previously served as strong support (due to confluence with EMA and Bollinger midline), has been broken decisively.
Increased Bearish Volume:
Today’s red candle came with higher-than-average volume, signaling strong selling pressure.
No Clear Reversal Candlestick Yet:
The current candle shows no bullish reversal pattern (e.g. hammer, bullish engulfing) to suggest a bounce is imminent.
Next Strong Support:
The next likely support zone is $18.50–$19.00, near the lower Bollinger Band and prior accumulation levels.
Forecast & Entry Consideration
❌ Is this a good moment to enter a long position?
Not yet. Current technicals favor further downside. Entering now would mean going against the trend without confirmation of reversal. A safer entry would be:
Near the $18.50–$19.00 zone, if bullish signals appear (e.g. bullish divergence, hammer candle, volume confirmation).
Or on a break back above $22.40 with strong volume — signaling a failed breakdown and possible bear trap.
Summary:
🔻 Short-term trend: Bearish
⚠️ Recommendation: Wait for confirmation before entering.
🎯 Watch levels:
Support: $18.50–$19.00
Resistance: $22.30–$22.40
