AVAXUSD Market Analysis- July 4
Avalanche (AVAXUSD) confirms a bearish structure shift after a strong rejection at the $26.10 level, with current price action suggesting a short-term retracement before the downtrend potentially resumes.
AVAXUSD Key Levels
Support Levels: 18.10, $14.70
Resistance Levels: $21.30, $26.10
AVAXUSD Long-Term Trend: Bearish
Avalanche (AVAXUSD) has officially resumed its bearish trajectory following a strong rejection from the $26.10 supply zone. Price initially rallied from a key demand level at $14.70, where bullish momentum temporarily took over, pushing price up toward the $26.10 resistance. However, this level proved significant as price was rejected twice, triggering a reversal in structure.
The rejection at $26.10 marked a critical turning point. Price began forming lower lows, confirming a bearish break of structure. The most recent bearish leg originated from a daily supply zone slightly above the $21.30 level, breaking decisively through the $18.10 demand zone—indicating renewed bearish pressure.
Currently, price appears to be in a corrective phase, showing a temporary upward move. This is partially supported by a slight uptick in the daily Relative Strength Index (RSI), suggesting a retracement is in play. However, the broader trend remains bearish, and this upward movement is likely aimed at filling the daily Fair Value Gap before resuming the downward trend.
AVAXUSD Medium-Term Trend: Bullish
In the medium term, AVAXUSD is showing signs of a bullish correction following the breakdown below the $18.10 demand level. This upward move appears to be a retracement toward the unfilled daily Fair Value Gap left behind during the recent selloff.
A minor bullish break of structure has occurred on the lower timeframes, and price has tapped into a 4-hour bullish order block. This could serve as a potential launch point for a temporary bullish leg. However, momentum is currently weak as the 4-hour RSI is showing a decline in strength. Until RSI begins to climb again, traders should expect delayed bullish continuation or consolidation in the short term.
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