Two days ago we saw AVAX testing and failing its support trend line. The break-out to the bottom side was confirmed when retesting the support trend line that acted as resistance. When looking at the price action, bearish signals were in play (shooting start & engulfing candles).
As highlighted in the chart there is a possibility to fall lower to the indicated demand zone. This zone has been tested several time and acts as a strong support.
As these corrections are normal market cycles, I am stull bullish on Avalanche in the long run!
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This is not financial advice
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Demand zone re-tested. Let's see if the bounce is strong enough to continue to the upside. Update will follow