AVAX Crypto Crash Alert: Will It Hold $25 or Plummet Further?

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AVAX Crypto ****** Alert: Will It Hold $25 or Plummet Further?

As of the latest 4-hour chart analysis, the AVAX crypto is trading at $25.91, showing a clear downtrend in recent sessions. The 9 EMA is at $26.68, and the 20 EMA is slightly higher at $27.40, indicating a bearish crossover with the price trading below both moving averages. This scenario typically signals bearish sentiment among traders.

AVAX Crypto Price Prediction

The price has seen a series of lower closes, with the recent price action struggling to hold above the key support level of $25.64. Should this level fail to hold, the next critical support to watch is $25.34, followed by a more significant floor at $23.86. These levels are crucial for bulls to maintain to avoid further downward pressure.

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On the upside, the AVAX crypto faces immediate resistance at $27.34. Breaking above this level could pave the way towards the next resistance at $27.81, and if the bullish momentum continues, $28.39 would be the subsequent target. However, the overall technical

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******** bearish unless these resistance levels are convincingly breached with strong volume.

The MACD indicator shows increasing bearish momentum, with the MACD line well below the signal line and a consistently negative histogram. This indicates sustained selling pressure and a lack of bullish divergence. Meanwhile, the RSI is currently at 31.13, which is in the oversold territory. This could potentially lead to a short-term bounce if buying interest increases, but it is not a strong enough signal on its own to suggest a reversal.

Possible Trade Ideas

For traders considering long positions, it would be prudent to wait for a confirmed break above the $27.34 resistance level, coupled with a bullish crossover in the MACD or an RSI recovery above 40. ************* entry points for long trades could be near $27.34. A target can then be set at $27.81 and a stop loss below $25.64 to manage risk effectively.

For those looking at short positions, current levels near $25.91 could be considered. Traders could target the $25.34 support level and then $23.86 if the downtrend continues. A stop loss just above $27.34 would help mitigate potential losses if the market reverses.

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The current technical analysis of the AVAX crypto suggests a bearish

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with critical support levels at $25.64 and $25.34. Technical indicators reinforce the bearish sentiment, although the oversold RSI could indicate a potential short-term bounce. Traders should approach with caution and employ strict risk management strategies.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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#AVAX #Crypto #****** #Alert #Hold #Plummet

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