BEARISH ALERT $AVAX Losing Ground – Downward Momentum in Play $AVAX is trading at $42.92, showing strong bearish momentum after failing to hold key support levels. Indicators suggest further downside if the current trend persists.
Key Levels to Watch:
Support 1: $42.50
Support 2: $41.80
Support 3: $41.00
Trade Setup:
Short Entry: Below $42.80
Take Profit (TP):
1. $42.40
2. $41.90
3. $41.50
Stop-loss: $43.50
Market Insight:
With RSI dipping into the oversold region and MACD indicating negative momentum, $AVAX could face increased selling pressure. A drop below $42.50 may lead to a sharp decline toward $41.00.
Monitor the volume closely for confirmation of the bearish trend, and exercise tight risk management.