$AVAX has had a pretty interesting couple of days if you've been watching closely. Looking at the 15-minute chart on Binance, price opened around the 6.67 area on June 27th and almost immediately started bleeding lower. That drop wasn't violent but it was steady and relentless the kind of grind down that shakes out the impatient hands.
We finally found a bottom around 6.270 sometime on the 28th, which also lines up with the 24h low. What's interesting is how price consolidated around that level before buyers started stepping in. It wasn't a V-shaped recovery either, more of a slow accumulation before momentum picked up.
Now we're sitting at 6.546, up about 2.86% on the day, and the recovery leg looks pretty clean. Higher lows forming on the right side of the chart and we've reclaimed the mid-range. The volume spike on that last push up is notable VOL(USDT) hitting 70.1K on the current candle with MA(5) well above MA(10) suggests there's genuine buying interest behind this move, not just a dead cat.
The 6.60–6.67 zone is the obvious area to watch now. That's where sellers previously took control, so a clean break and hold above 6.676 would be a meaningful shift in structure. Rejection there and we could easily revisit the 6.40s.
We finally found a bottom around 6.270 sometime on the 28th, which also lines up with the 24h low. What's interesting is how price consolidated around that level before buyers started stepping in. It wasn't a V-shaped recovery either, more of a slow accumulation before momentum picked up.
Now we're sitting at 6.546, up about 2.86% on the day, and the recovery leg looks pretty clean. Higher lows forming on the right side of the chart and we've reclaimed the mid-range. The volume spike on that last push up is notable VOL(USDT) hitting 70.1K on the current candle with MA(5) well above MA(10) suggests there's genuine buying interest behind this move, not just a dead cat.
The 6.60–6.67 zone is the obvious area to watch now. That's where sellers previously took control, so a clean break and hold above 6.676 would be a meaningful shift in structure. Rejection there and we could easily revisit the 6.40s.