When AVAX is examined from a technical perspective on the daily chart, it is seen that the price has broken the downward trend it has been in for a long time and has started to move within an ascending channel after this break. This situation can be evaluated as a signal of a change of direction in the medium term. The current price level is $ 22.25, showing a decrease of 3.09% on a daily basis. This price level is also just above the short-term support line. Technically, this level is a critical threshold in terms of the direction of the price. Significant support and resistance levels are clearly observed on the chart. While the closest support levels stand out as $ 22.00 and $ 20.10, these levels are important because they are areas where the price has reacted many times in the past. In particular, the $ 20.10 level is in a strong horizontal support position and it is predicted that the declines may accelerate if this level is dropped below. In upward movements, the first strong resistance level is $ 23.09. If this level is maintained, $ 24.43 and then $ 28.50 levels can be targeted. The $28.50 resistance is critical as it has been a strong level that has determined the direction of the price in the past. If this resistance is broken, the price may show an accelerated rise to the $33.48 - $35.42 band. In the longer term, the $42.14 and $55.79 levels stand out as major resistance points.
When the trend lines are examined, it is seen that the falling trend that previously suppressed the price has been broken and that an ascending parallel channel has been formed with this break. Within the channel structure, the price occasionally touches the lower band and reacts, while the upper band shows resistance. In recent movements, it is noteworthy that the price tested the lower band of the channel and reacted upwards again, but was rejected from the $23.09 resistance. This shows that the market is currently in the decision phase.
In terms of possible scenarios, if the $22.00 level works as support in the positive scenario, the price can be expected to test the $23.09 and $24.43 resistances. If it is sustained above $24.43, there may be a movement towards the $28.50 resistance. In the negative scenario, daily closings below $22.00 may lead to pullbacks to the $20.10 support. If this level is broken, selling pressure will increase and a trend towards lower support levels may be seen. As a result, AVAX is trading in the technical decision zone. The $22.00 - $23.09 band is critical and investors are advised to follow the price movements in this region carefully. While upward breaks can confirm the continuation of the uptrend, downward breaks can trigger a new downward wave. Therefore, reactions and volume movements at both support and resistance levels will be decisive in terms of direction determination.
