Avalanche price analysis (Neutral) — 21.45 USDT (-3.29% 24h)

AVAX is showing concerning technical signals as it trades at $21.45, down 3.29% over the past 24 hours. The cryptocurrency has slipped below both its 20-day SMA ($21.80) and 50-day SMA ($23.57), indicating sustained bearish momentum. However, the RSI reading of 28.69 suggests AVAX is deeply oversold, potentially setting up for a short-term bounce. Trading volume remains healthy at $122 million, though volatility remains elevated at nearly 8%. For traders, current levels present a potential accumulation opportunity with tight stop losses below $20.50. Resistance sits near the $22.50 level, which could serve as a take-profit target for short-term positions. The broader market sentiment will likely dictate whether AVAX can capitalize on its oversold condition or continues its descent.