AVAX is trading at 85.62% below its all-time high of $146.22. After being in a downward trend for a while, AVAX price showed a recovery starting from $8.65 and reaching $24.69.
Currently, AVAX is moving at a critical resistance level of $22, which should be closely monitored. Bears showing resistance here can create a conflict in the market.
Nevertheless, upward momentum continues despite the resistance level of $22. If bulls manage to hold the current level and no significant pullback occurs, the possibility of a breakthrough above $22 will increase. In this scenario, the pair is expected to target $25.
Looking at the AVAX chart, the 20-day Exponential Moving Average (EMA) at $18.40 appears to be a critical point for possible downside movements. Breaking below this level could indicate the start of a deeper correction, potentially leading the AVAX/USDT pair towards $16.
As the current market dynamics unfold, it is important to pay attention to resistance against upward movements and defense strategies against possible downturns. As AVAX approaches the critical level of $22, investors are advised to stay vigilant for signs of a breakout or pullback.