- The Avax Price campaign of the past month showed that the downward trend was at the Momentum
- It was unclear whether the broader market would start recovering in the coming months, and investors should tape their expectations
The announcement of a 90 -day tariff break by President Donald Trump has illuminated the sales pressure in the short term. Bitcoin [BTC] had risen 7% from 24 hours ago and Avalanche [AVAX] has made a bounce of 10.3%.
The technical analysis showed that the downward pressure on avalanche was not as strong as in January and February. A range and consolidation around $ 17 laymen possible.
Is Avalanche a long -term soil?
Source: Avax/USDT on TradingView
The 1-day graph showed that the Bearish trend was still dominant, but it was delayed in the past month. The level of $ 15.27 marked the low in March and the recent sale forced avine to fall on Monday to $ 14.66.
The volume profile with a fixed range was plotted from the start of the November rally. It showed that the upper and lower limits of the value area (blue) were $ 39.3 and $ 15.4 respectively. The control point (red) was at $ 18.7 and currently served as a resistance.
That is why Ambcrypto concluded that the range of $ 15- $ 17 was probably a critical demand zone for avalanche. If the price falls below $ 14.5, this can point another leg down.
On the other hand, if Avax Bulls continues to defend this region, there would be an increased potential for recovery.
The delay in the Bearish Momentum came alongside Avax last month, which bounced between $ 15 and $ 23. This range can mark the consolidation phase that follows the strong downward trend of the previous three months.
Source: Coinglass
The 30-day liquidation map showed that long liquidations in the minority hall were placed in the short liquidations and were placed closer to the current price. It identified high leverage liquidation levels at $ 18.18, $ 17.76 and $ 16.74 as goals in the short term.
A potential dip to these levels to collect liquidity before a price distance probably appears in the short term. Above $ 18.24, clusters of $ 19 and $ 20 serve as considerable magnetic zones, which indicate that areas to check on a bearish reversal.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
