Avalanche price analysis (Bearish) — 28.17 USDT (-8.80% 24h)

AVAX is showing significant weakness after an 8.8% decline over the past 24 hours, now trading at $28.17 below both its 20-day SMA ($29.11) and 50-day SMA ($31.41). The RSI reading of 34 indicates oversold conditions, suggesting potential for a short-term bounce, but the breach of key moving averages confirms the bearish momentum. Trading volume remains elevated at $193 million, indicating strong seller participation. The high volatility reading of 5.5% suggests continued price swings ahead. Traders should watch for support around the $27.50 level – a break below could trigger further declines toward $25. Consider short positions on any rallies toward $29.50 resistance with tight stops above $30. Long-term investors might scale in below $27 if momentum stabilizes, but wait for RSI recovery above 40 before adding significant exposure.