$AVAX is attempting a recovery from its major support region after printing a daily double-bottom pattern. An upward RSI movement from oversold territory and a 6% increase in open interest support the developing setup. Baseline funding suggests the move is not being driven by excessive futures positioning. Traders should monitor the $9.15 resistance.
📈 Bias: Neutral to Bullish | 🎯 Entry: $8.40–$8.55 | 🛡 Support: $8.20 | 🚧 Resistance: $9.15 | 🎯 Targets: $8.95 / $9.15 / $9.50 | ❌ Invalidation: Close below $8.10.
Strategy: Consider a confirmed support retest or bullish continuation. A sustained breakout above resistance would strengthen the recovery case.
#AVAX #Avalanche #Layer1 #CryptoTrading #TechnicalAnalysis
📈 Bias: Neutral to Bullish | 🎯 Entry: $8.40–$8.55 | 🛡 Support: $8.20 | 🚧 Resistance: $9.15 | 🎯 Targets: $8.95 / $9.15 / $9.50 | ❌ Invalidation: Close below $8.10.
Strategy: Consider a confirmed support retest or bullish continuation. A sustained breakout above resistance would strengthen the recovery case.
#AVAX #Avalanche #Layer1 #CryptoTrading #TechnicalAnalysis
