$AVAX is currently in a corrective phase, reflecting sustained bearish pressure. The price is trading below key moving averages—including the 7-day, 30-day, 50-day, and 200-day—indicating that the broader trend remains weak. A break below the main pivot point, along with the loss of important Fibonacci retracement levels, reinforces the ongoing downtrend. Momentum indicators highlight this weakness: RSI remains in oversold territory, suggesting the potential for short-term relief bounces, while the MACD continues to favor sellers.
In the past 24 hours, $AVAX has experienced increased volatility and net outflows, with minor upward moves occurring on low volume, indicating limited buying strength. Key support zones are identified at $9.25 and $9.22–$9.24, with downside risk extending toward $9.18–$9.20. On the upside, near-term resistance levels lie at $9.35–$9.38 and $9.45–$9.48, which must be reclaimed to indicate a meaningful trend reversal.
While oversold conditions may allow temporary relief rallies, the broader trend remains bearish until major resistance levels are recovered with volume confirmation. Traders should monitor volume closely on any reversal attempt. DYOR and manage risk prudently.
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