AVAX Pullback Tests Support After 468% Rally — Watch for Buy-on-Weakness
I see AVAX retrace 3.95% to $23.59 after an extraordinary 468% weekly rally driven by institutional adoption and network upgrades. Despite strong fundamentals, the token is testing key support today.
I think the pullback is likely linked to a token unlock that increases short-term supply and prompts profit-taking. I’m cautious about buying into strength until support and volume stabilize.
I will monitor price action around current support and look for a confirmed hold before committing capital, using a buy-on-weakness approach only if the level holds.
Analysis
Recommendation
Watch price action and avoid buying into the initial rebound. Consider a buy-on-weakness only if key support holds and volume confirms a reversal; otherwise remain on the sidelines.
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.