📊 Technical Analysis
● AVAX/USD remains in a well-defined descending channel after a failed rising triangle and multiple bearish triangle formations, confirming sustained selling pressure. Each rebound is capped by the descending resistance line, forming a clear sequence of lower highs.
● Price is consolidating just above the channel support near 11.5–11.0. A breakdown below this base would likely extend the bearish wave toward the next structural support, while upside attempts remain corrective below resistance.
💡 Fundamental Analysis
● Weak sentiment across altcoins and reduced risk appetite, alongside cautious crypto inflows, continue to weigh on AVAX performance.
✨ Summary
● Bearish trend intact. Resistance: 12.6–13.0. Targets: 11.5 then 11.0. Invalidation above descending resistance.
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● AVAX/USD remains in a well-defined descending channel after a failed rising triangle and multiple bearish triangle formations, confirming sustained selling pressure. Each rebound is capped by the descending resistance line, forming a clear sequence of lower highs.
● Price is consolidating just above the channel support near 11.5–11.0. A breakdown below this base would likely extend the bearish wave toward the next structural support, while upside attempts remain corrective below resistance.
💡 Fundamental Analysis
● Weak sentiment across altcoins and reduced risk appetite, alongside cautious crypto inflows, continue to weigh on AVAX performance.
✨ Summary
● Bearish trend intact. Resistance: 12.6–13.0. Targets: 11.5 then 11.0. Invalidation above descending resistance.
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Share your opinion in the comments and support the idea with a like. Thanks for your support!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.