AVAX | At Critical Juncture

AVAX presents a critical juncture on the weekly timeframe with two distinct scenarios playing out. The price action remains trapped between key levels, showing signs of weakness despite recent consolidation attempts.

The bearish path (red arrow) appears more probable given the prolonged downtrend and failure to establish meaningful higher highs. A break below the current support zone around $17.52 could trigger a significant selloff toward the lower green support area near $12-14, with potential for even deeper retracements.

The alternative bullish scenario (green arrow) would require a decisive break above the orange resistance zone around $28-32 to gain credibility. However, the overall chart structure suggests limited upside momentum.

Key levels to monitor:

Critical support: $17.52 (current price)
Breakdown target: $12-14 zone
Resistance to reclaim: $28-32 orange zone

Risk management is crucial given the binary nature of this setup.