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$AVAX /USDT: Bearish Rejection at $9.7 – Short Strategy! ⚡
The recent price action on Avalanche (AVAX) confirms that the bulls are losing steam. After a sharp rejection near the $9.7 resistance zone, the price has pulled back into the $9.3 area, signaling a potential continuation of the local downtrend. With the overall market showing signs of a "February Flush," this setup focuses on catching the next leg down.
🔍 Trade Analysis:
The Rejection: Failing to hold above $9.7 has turned that zone into a strong supply area.
Current Trend: AVAX is trading below key short-term moving averages, and the RSI indicates there is still significant room for a further decline before hitting oversold territory.
Market Context: We are targeting previous support levels that have historically acted as magnets during broad market corrections.
📊 Short Setup Details:
Entry Zone: $9.45 – $9.65 (Sell on strength/minor bounces)
Target 1 (TP1): $9.10
Target 2 (TP2): $8.70
Target 3 (TP3): $8.20 (Major support test)
Stop Loss (SL): $10.05 (Exit if price invalidates the bearish structure above the psychological $10 level)
Verdict: The path of least resistance is currently lower. Secure your profits early and stay disciplined with your risk management! 🛡️📉
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