The
AVAXUSDT AVAXUSD chart on the 1W timeframe is at a crucial decision point as it tests the $22 support level, a key area where price previously bounced. The strong wick rejections suggest buying interest, but the price remains within this range, meaning a breakdown is still a possibility.If $22 holds, a long position targeting $38 offers a favorable risk-to-reward ratio of more than 1:3. For confirmation, traders might wait for a swing high formation, followed by a break to the upside, signaling renewed bullish momentum.
However, if $22 fails, the next significant downside target sits at $10, marking a major support zone where buyers could step in for a deeper accumulation phase.
This setup presents both bullish and bearish scenarios, making it a high-stakes area to watch.
👨🏻💻💭 Will AVAX defend $22 and push toward $38, or is a drop to $10 on the horizon? Share your thoughts and let’s discuss the next move!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.