AVAX Tests $24 Support; Bullish MACD Suggests Buy on Weakness
I see Avalanche (AVAX) trading at $24 after a 5.44% pullback that is testing near-term support. I view the drop as risk-on weakness rather than a breakdown, given the context.
Technicals show bullish MACD momentum emerging, which suggests underlying strength and the possibility of a rebound if support holds. I’m watching for confirmation in price action and volume.
I would consider a buy-on-weakness approach around current levels, but only after confirming support holds and using disciplined risk management.
Analysis
Recommendation
Consider a buy-on-weakness strategy near $24 if support holds, with tight stops below the support level and confirmation from price/volume and MACD signals.
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.