🚨$AVAX Current Trend Consolidating with bearish bias
From the Klines, that sharp drop from ~28 USDT came with a monster volume spike (like 53.9M on that big red candle), which screamed capitulation. Now volumes are way lower (7-11M range lately), so the selling might be losing steam, but there's no real buying fire yet – just kinda dead in the water.
Capital flows are straight-up ugly. Futures are bleeding hard: -5.9M in 4H, -5.4M in 24H – massive leverage getting flushed out, that's a big red flag for more downside. Spot is mixed – some inflows on longer frames (12H/24H), so maybe dip buyers stepping in, but shorter ones are negative too. Overall, pros are clearly risk-off and unwinding.
**My own take on $AVAX Cautiously short, leaning bearish until proven otherwise.
**Best entry:** Wait for a bounce up to resistance around (12.955) or the 20-day MA (~12.95). If we reject there with some bearish candle, that's a solid short spot. Or if we break and close below Support (11.564), jump in on the momentum.
**Stops:** Entry near 12.90 -> Stop around 13.40 – gives room for the noises
**Targets:** $AVAX
Primary: back to Support at 11.564.
If that breaks, next support target at 10.717.
{future}(AVAXUSDT)
This setup feels like the bears are still in control, but watch for any surprise reversal if spot inflows pick up big time. DYOR, size small, crypto's wild right now.
What do you think – more downside on AVAX or bottoming out? Drop your takes below! 🚀#AVAX #Avaxusdt #Avalanche
From the Klines, that sharp drop from ~28 USDT came with a monster volume spike (like 53.9M on that big red candle), which screamed capitulation. Now volumes are way lower (7-11M range lately), so the selling might be losing steam, but there's no real buying fire yet – just kinda dead in the water.
Capital flows are straight-up ugly. Futures are bleeding hard: -5.9M in 4H, -5.4M in 24H – massive leverage getting flushed out, that's a big red flag for more downside. Spot is mixed – some inflows on longer frames (12H/24H), so maybe dip buyers stepping in, but shorter ones are negative too. Overall, pros are clearly risk-off and unwinding.
**My own take on $AVAX Cautiously short, leaning bearish until proven otherwise.
**Best entry:** Wait for a bounce up to resistance around (12.955) or the 20-day MA (~12.95). If we reject there with some bearish candle, that's a solid short spot. Or if we break and close below Support (11.564), jump in on the momentum.
**Stops:** Entry near 12.90 -> Stop around 13.40 – gives room for the noises
**Targets:** $AVAX
Primary: back to Support at 11.564.
If that breaks, next support target at 10.717.
{future}(AVAXUSDT)
This setup feels like the bears are still in control, but watch for any surprise reversal if spot inflows pick up big time. DYOR, size small, crypto's wild right now.
What do you think – more downside on AVAX or bottoming out? Drop your takes below! 🚀#AVAX #Avaxusdt #Avalanche
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
AVAX
12.23
-0.40%