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Avax is now testing a critical support zone, testing a critical support zone at the $20 level after a 55% increase in local lows registered in early April. This level can determine the next phase of price action, as the bulls aim to regain control and push the price to higher territories. Maintaining this support is crucial to maintaining the bullish momentum over the past few weeks.
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However, macroeconomic tensions and ongoing global market volatility continue to have a significant burden on investors’ sentiment. Altcoins such as avalanche face growing pressures as financial markets respond to geopolitical uncertainty and rising interest rates.
Despite the headwind, some analysts remain optimistic. Top crypto analyst Ali Martinez recently shared a technical setup, noting that Avax bounced on a 200-day simple moving average (SMA) on a 4-hour chart, a level traders often pay close attention to. According to Martinez, this rebound may be the hub point for the bulls, especially above the strength above the strength above the quantity and price action confirms. Clean movements starting here can reignite the uptrend of Avax and refocus it as one of the leading Altcoins in the Layer 1 ecosystem. The next few days will be crucial to confirming the direction.
Avalanche bounces from key levels as bulls recover
After months of volatility and ongoing sales pressure, the avalanche deal was a key point that brought the asset down from its early highs. Despite the tough circumstances, emotions seem to be shifting. Over the past few weeks, Avax has attracted renewed attention from traders and analysts who believe the current structure may lead to meaningful recovery. Market participants are closely watching confirmed reversal local lows to indicate starting with a wider supply area.
According to Martinez’s insights, the Avalanche is currently bounced on its 200-day simple moving average (SMA) on the 4-hour chart, a level that is often seen as a key dynamic support in the trending market. This rebound is further supported by the TD sequential indicator, which flashes a buy signal, indicating that bullish momentum may be building at this critical price level.
To make this reversal truly attractive, Avax must not only defend current support, but also break through the short-term resistance zone to establish a bullish continuation pattern. Price action this week will be crucial as broader crypto markets are looking for directions in the context of macroeconomic uncertainty.
If the Bulls step in with conviction and number confirmation power, the Avalanche could position itself in the $25-30 range. However, failing to exceed the $20 level could lead to further disadvantages and retest previous lows. As technical indicators become consistent and market sentiment increases, the next few meetings may define the trajectory of Avax in the coming weeks.
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Avon price details: technical level to watch
The Avalanche is currently trading at $19.98, testing key levels of psychological support after a major recovery from its local bottom in early April. Despite the modest rebound, Avax is still well below the 200-day simple moving average (SMA) at $29.80, while the 200-day exponential moving average (EMA) is well below $26.30. This confirms that the broader trend remains bearish and the Bulls have not yet retracted any major technical base.
Recent prices rejected the area near $22 to $23, indicating that sellers are still under control. The volume appears to be gradually decreasing, and the signal will weaken momentum. Both the slope declines in SMA and EMA enhance structural weakness in the medium term. Unless Avax can exceed a resistor cluster of $26-$30, the path with minimal resistance remains unfavorable.
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Currently, the market appears to aggregate $18 to $23 in a lower range. If this support is $20, Avax may revisit March Lows for nearly $16. On the other hand, the decisive breakthrough above the EMA may arouse new interest from the Bulls and indicate a potential trend reversal. Traders should pay attention to the increase in volume and rise at closing prices above $26 to confirm the shift in sentiment.
Featured images from DALL-E, charts from TradingView
