- The action of the AVAX price last month showed that its downward trend lost momentum
- It was not clear if the wider market would begin to recover in the coming months, and investors had to temper their expectations
The announcement of the 90 -day rate break by President Donald Trump relaxed the short -term sales pressure. Bitcoin (BTC) increased by 7% compared to 24 hours ago and avalanche (AVAX) made a rebound of 10.3%.
Technical analysis has shown that downward pressure on the avalanche was not as strong as in January and February. Beach training and consolidation around $ 17 seemed possible.
Does the avalanche form a long-term background?
Source: Avx / USDT on tradingView
The graph of a day showed that the downward trend was still dominant, but it slowed down in the past month. The level of $ 15.27 marked the hollow of March and the recent sale forced an avalanche to fall at $ 14.66 on Monday.
The fixed beach volume profile was drawn from the start of the November rally. He showed that the upper and lower limits of the value area (blue) were at $ 39.3 and $ 15.4 respectively. The checkpoint (red) was $ 18.7 and currently served as a resistance.
Consequently, Ambcrypto concluded that the fork from $ 15 to $ 17 would probably be a critical request zone for the avalanche. If the price falls below $ 14.5, it could report another leg down.
On the other hand, if Avx Bulls continues to defend this region, there would be increased recovery potential.
The slowdown in the downward dynamics came next to AVAX bouncing between $ 15 and $ 23 last month. This beach could mark the consolidation phase which follows the strong downward trend of the previous three months.
Source: Coringlass
The 30 -day liquidation card showed that long liquidations were more numerous than short liquidations and were positioned closer to the current price. He identified high -level liquidation levels at $ 18.18, $ 17.76 and $ 16.74 as short -term objectives.
A potential drop at these levels to collect liquidity before a price rebound probably appears in the short term. Above $ 18.24, $ 19 and $ 20 clusters serve as significant magnetic areas, indicating areas to be monitored for a lower reversal.
Notice of non-responsibility: The information presented does not constitute financial investments, exchanges or other types of advice and is only the opinion of the writer
