‎AVAX Bullish Momentum Builds Amid Bearish Structure

AVAX Market Analysis – May 23

‎Avalanche (AVAX) is showing signs of a bullish recovery within a broader bearish trend, as price approaches key technical levels that could determine the next major move.‎

‎AVAXUSD Key Levels

‎Support Levels: $22.00, $15.00
‎Resistance Levels: $30.80, $42.00‎

‎AVAXUSD Long-Term Trend: Bearish

‎Avalanche (AVAX) has recently shown signs of bullish activity despite maintaining a long-term bearish structure. After reaching a significant high in early December 2024, the price declined sharply, breaking below the $42.00 mark and eventually plunging past the $22.00 support level. This breakdown confirmed a bearish structural shift as lower lows continued to form.
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‎However, AVAX found support around the $15.00 demand zone, where buyers quickly stepped in, initiating a notable bullish reversal. This upward move triggered a bullish structure shift on the daily timeframe, signaling renewed buying interest and the start of a corrective rally within the broader bearish context.
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‎As the bullish momentum builds, price action is currently navigating toward a key bearish order block on the daily chart. This area is expected to act as strong resistance, potentially halting the upward move and triggering a continuation of the dominant bearish trend.

‎AVAXUSD Medium-Term Trend: Bullish

‎On the 4-hour timeframe, price action offers a closer view of the ongoing bullish leg. A clear bullish structural shift has taken place, reinforcing the short-to-medium-term uptrend that aligns with the daily bullish correction.
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‎Currently, AVAX is trading within the overbought territory on the 4-hour Relative Strength Index (RSI), hinting at a potential pullback. This anticipated retracement is likely to test the 4-hour order block, where support is expected to form, allowing the price to resume its short-term bullish trajectory.

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