$AVAX 6.40
AVAX is still getting sold into here 📉
24h volume is only $6.63M, so this move doesn’t have a ton of fuel behind it, but the tape is weak enough that buyers are still getting ignored.
4h is down 0.7%, RSI is 39, and price is sitting below the 20d and 50d MAs. That’s bearish stack territory. Longs are even paying 0.002% funding while spot can’t reclaim anything meaningful. Nasty combo 😬
Short version:
No trend flip yet.
38% off the 30d low looks decent, but it’s still 8% below the 30d high and volume is only 0.6x its 20d average. I want a clean reclaim before I trust this. Until then, rallies are just exits.
Drop your entry on AVAX.
#Avalanche
#Layer1
#Altcoin
AVAX is still getting sold into here 📉
24h volume is only $6.63M, so this move doesn’t have a ton of fuel behind it, but the tape is weak enough that buyers are still getting ignored.
4h is down 0.7%, RSI is 39, and price is sitting below the 20d and 50d MAs. That’s bearish stack territory. Longs are even paying 0.002% funding while spot can’t reclaim anything meaningful. Nasty combo 😬
Short version:
No trend flip yet.
38% off the 30d low looks decent, but it’s still 8% below the 30d high and volume is only 0.6x its 20d average. I want a clean reclaim before I trust this. Until then, rallies are just exits.
Drop your entry on AVAX.
#Avalanche
#Layer1
#Altcoin