Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
- AVAX’s sellers pushed the altcoin to a key bullish zone.
- Demand in the Futures market dipped slightly.
Aggressive Avalanche [AVAX] sellers grabbed +15% shorting gains after dragging the altcoin from a recent high of $11.88 to a press time value of <$10. But the pullback has hit key bullish zones.
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AMBCrypto’s recent AVAX price analysis projected that the earlier bullish momentum could tip AVAX to $11. The projection was validated, but sellers entered the market after AVAX hit a key roadblock.
Will $10 stop the plunge?
AVAX’s recovery faced price rejection at a price imbalance area of $11.88 – $12.15 (white). A daily bearish order block (OB) of $12.15 – $12.46 (red) exists above the price imbalance sellers exploited for recent market re-entry.
But the pullback has hit a key bullish level and a previously invalidated daily bullish OB of $9.89 – $10.13 (cyan). Below the bullish OB, another price imbalance/liquidity area of $9.49 – $9.81 (white).
So, the AVAX’s drop could ease at the above two levels if BTC doesn’t post excessive losses in the next few days. As such, $9.5 and $10 could be key buying interest levels, with immediate bullish targets at $10.54 and $11.02.
Conversely, an extended plunge below $9.49 (price
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Author: Benjamin Njiri
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