AVAX / TetherUS
Long

AVAX - Daily Chart

101
๐Ÿง  Market Structure:
โœ… Uptrend recovery in progress from March 2025 lows.

๐ŸŸข Break of Structure (BOS) confirmed in mid-April and early May, showing strength and higher highs.

๐Ÿ”„ Change of Character (CHoCH) detected multiple times โ€” a sign of previous uncertainty now leaning bullish.

โŒ Still below key supply zone (~$26โ€“$30), facing resistance.

๐Ÿ” Zones to Watch:

Resistance Zone $26.00 โ€“ $30.00 Strong supply; price rejection possible
Local Support $20.50 โ€“ $21.00 Minor demand block formed after recent BOS
Major Support $14.66 (Weak Low) Important level to hold in case of a breakdown

๐Ÿ“ˆ Momentum & Indicators:
Stochastic RSI: Near overbought, turning down. Potential short-term consolidation or retracement.

MACD (not visible but inferred): Likely still bullish from April breakout.

Volume: Tapering off slightly after recent pushโ€”needs stronger conviction to break above $25โ€“26.

๐Ÿงญ Trade Insights:
Bullish Case:
Holding above $21โ€“22 is key for maintaining bullish market structure.

Close above $25.50โ€“26.00 could initiate rally toward $30+, possibly testing prior highs.

Bearish Case:
Failure to hold $21.00 = potential return to deeper support around $18 or even $14.66 (major demand).

Watch for bearish divergence or breakdown signals near supply zone.

๐ŸŸก Current Sentiment:
AVAX is in a consolidation phase after a bullish breakout in Aprilโ€“May. Momentum is slightly fading short-term, but structure remains bullish unless $21 is lost. A clean breakout above $26 will likely attract buyers again.

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