AVAX - Any Daily Chart Opinions?

📉 Trend Overview
- AVAX has been in a clear downtrend since mid-May,
- steadily declining from ~$27 to the current ~$18.
- Multiple lower highs and lower lows are evident, confirming bearish market structure.

🔍 Price Action
- Price is currently testing a key support zone around $17.50–$18,
- near previous consolidation zones (seen in April and February).
- Candle body sizes are shrinking, indicating momentum loss from sellers.

📊 Volume
- Volume is declining slightly, even during the downtrend, which may suggest selling exhaustion.
- No major bullish spike yet — so no confirmation of accumulation.

🧮 WaveTrend Oscillator (WT_CROSS)
WT Oscillator is:
- In deep oversold territory (below -50).
- Close to printing a green dot or crossing up, signaling a potential bullish reversal.
- The crossover isn’t completed yet — but worth watching in the next few days.

⚠️ Key Levels
- Immediate Support: ~$17.80 to $14.60 (historic demand zone).
- Resistance to Watch: ~$20.50 (first test zone), then ~$22.60.

✅ Bullish Signs
- Oversold oscillator with near crossover = possible bounce setup.
- Strong historical support zone — price may stabilize here if buyers step in.
- Heikin Ashi candles showing small-bodied red candles = possible trend weakening.

🚨 Bearish Risks
- No bullish divergence or confirmation yet — WT signal not fully formed.
- If support around ~$17.50 fails, next stop could be $14.50–$15.00 area.
- Still in macro downtrend — any bounce could just be a lower high retracement.

📌 Conclusion
AVAX is showing early signs of bottoming out, but not confirmed yet.

If you're a short-term trader, watch for:
- WT bullish crossover
- Bullish candle confirmation (e.g. engulfing or hammer)
- Volume spike on green days

For investors: cautiously accumulate only if price respects this support and macro sentiment improves.

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Disclosures:

This analysis is for informational purposes only and is not financial advice. It does not constitute a recommendation to buy, sell, or trade any securities, cryptocurrencies, or stocks. Trading involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.