$AVAX /USDT – Testing Key Support: Will Avalanche Hold This Level? ❄️📉
Hey everyone, let’s check in on
$AVAX /USDT – one of the top Layer 1s currently testing an important zone. Here’s what I’m seeing on the chart:
📊 Quick Stats:
· Price: $13.59 | -1.38% 🔻
· 24h High: $13.97
· 24h Low: $13.51
· 24h Volume: 1.09M AVAX | $15.01M USDT
📈 Technical View:
#AVAX is currently trading below all three key moving averages, indicating short-term bearish pressure:
· MA(7): $13.60 (immediate resistance)
· MA(25): $13.71 (next resistance)
· MA(99): $13.91 (major resistance overhead)
The price is hovering just above the 24h low of $13.51, which now acts as crucial support. A break below could signal further downside.
🎯 Key Levels to Watch:
· Resistance: $13.60 → $13.71 → $13.97
· Support: $13.51 (24h low) → if broken, next support near $13.20–$13.30
Volume is moderate, with current volume slightly above the MA(10), but not showing strong accumulation yet.
💭 My Take:
AVAX, as a major Layer 1, often reflects broader smart contract platform sentiment. Right now, it’s in a corrective phase, trading below its key MAs. The $13.51–$13.60 zone is critical – holding here could set up a bounce, while losing it might lead to a test of lower supports.
If you’re holding, watch the $13.51** level closely. For a bullish reversal, we’d need to see a reclaim of **$13.71 with volume. Given AVAX’s strong ecosystem and ongoing developments, dips like this can sometimes offer opportunities—but timing is key.
As always, trade with a plan and manage your risk. The crypto market can shift quickly!
What’s your view on AVAX here? Buying the dip or waiting for stronger reversal signals?
Let me know in the comments! 👇
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#AVAX #Avalanche
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