$AVAX USDT – Bottom defense and consolidation backed by massive bid wall
Long $AVAXUSDT Perp
Entry: 8.560–8.600
SL: 8.440 (Below the recent high-volume capitulation wick)
TP: 8.800 (EMA99 dynamic resistance)
TP: 9.000 (Psychological round number)
TP: 9.200
AVAX experienced a harsh sell-off on the 15m chart, bottoming out at 8.460 with a high-volume capitulation wick. The price is currently consolidating and attempting to base around the short-term EMAs (7 & 25). While the chart structure still looks heavy, the order book depth reveals a completely different dynamic: a massive 61.6% bid dominance. Buyers are building a heavy wall to defend this local bottom and absorb any remaining sell pressure. With this strong underlying demand acting as a safety net, it sets up a high-probability relief bounce targeting the macro moving averages.
#dyor !!!!
Trade $AVAX USDT here 👇
