AVAXUSD Market Analysis- July 26
AVAXUSD faces renewed bearish pressure as a weak bullish correction fails to breach the $26.20 resistance, signaling a likely continuation of the broader downtrend.
AVAXUSD Key Levels
Support Levels: 21.00, $16.70
Resistance Levels: $26.20, $31.30
AVAXUSD Long-Term Trend: Bearish
Avalanche (AVAXUSD) has resumed its broader bearish trend after a temporary bullish rally failed to hold momentum. The initial breakdown below the $21.00 demand zone between February and March 2024 marked the start of the prevailing bearish structure. Although price rebounded from the $16.70 demand level and initiated a bullish movement, this rally was insufficient to shift the long-term market sentiment.
Despite recent bullish attempts, the overall market structure remains bearish. The temporary upside movement lacks the strength to confirm a reversal, as key supply zones—especially the $26.20 resistance level—remain unbroken. Price action in early July demonstrated a rejection from the trendline support while approaching a daily Fair Value Gap (FVG), but the bullish momentum failed to sustain above $26.30.
The rejection at the $26.20 level triggered a strong bearish reaction, signaling a possible continuation of the prior downtrend. From a broader technical perspective, the bullish rally may be forming a Bearish flag, a typical bearish continuation pattern, further reinforcing the bearish outlook. Moreover, daily RSI also aligns with this bearish sentiment, indicating potential for a renewed decline.
AVAXUSD Medium-Term Trend: Bearish
On the 4-hour chart, the rejection from $26.20 has led to a renewed bearish structure, with the 4-hour Moving Averages now signaling downward momentum. Price is once again approaching the $21.00 level, a previously significant demand zone.
Should price break below this level, it would likely accelerate a move toward the trendline support. A decisive bearish breakout from the trendline would validate the continuation of the broader downtrend. Alternatively, if support holds, a short-term bullish rebound could occur—potentially aimed at filling the nearby daily Fair Value Gap before resuming the bearish trend.
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