As you can see, AVAX is retracting to its bounce zone, to confirm support but also:
1- Bouncing of Baseline 2- O.5 Fib level 3- RSI forming bearish div but OBV rising, indicating that this Div is probably a retracment! 4- Broke down trend.
I think Avax will bounce here or will drop to the 0.38 fib then bounce back up!