Avalanche (AVAX) bears price pressure after long liquidation near $23 - Expert Analysis | Cryptochase AI
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AVAX

Avalanche (AVAX) bears price pressure after long liquidation near $23

AVAX faced a significant move lower after a long liquidation, with the exit at around $23.06 and roughly $68.3k realized. This signals selling pressure and a potential shift in sentiment from bullish to cautious or bearish in the near term.

From here, the price action suggests bears might regain control unless buyers step in to defend key support. The liquidation context implies risk of further downside if $23 holds as resistance or if broader market weakness persists.

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Analysis

The core driver is a liquidation of a long position, which introduces forced selling into the order book. This event at $23.06 creates a psychological and technical benchmark; a break below recent support could accelerate downside via stop runs or momentum selling.

Technical context: If AVAX trades below local support levels, downside targets may emerge quickly. Conversely, a bounce above immediate resistance could restore near-term momentum for a relief rally, but that would require renewed buying interest and favorable market conditions.

Fundamentally, AVAX remains sensitive to broader crypto market sentiment, network developments, and DeFi activity on its chain. Until new catalysts appear, the price path may hinge on liquidity dynamics and macro risk appetite.

Recommendation

Consider a cautious stance. If you hold AVAX, evaluate tighter stop-loss placement and potential hedges to limit downside. For new entrants, wait for a clearer technical setup or a rebound signal rather than chasing the current dip.

Monitor key levels around $23 for support and nearby resistance zones. A break below could justify a fade strategy, while a reclaim above $25–$26 might open room for a short-term recovery.

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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