Avalanche price analysis (Bullish) — 22.34 USDT (-1.06% 24h)

AVAX is showing classic oversold conditions with RSI dipping to 26.58, well below the traditional 30 oversold threshold. The current price of $22.34 sits below both the 20-day SMA ($23.22) and 50-day SMA ($22.59), indicating persistent bearish pressure. However, the proximity to key moving averages suggests we’re approaching a critical inflection point. Trading volume remains substantial at $211M, signaling continued market interest despite the 1.06% daily decline. The elevated 8.64% volatility indicates significant price swings are likely. For traders, this presents a potential accumulation opportunity with tight stop losses below $21.50. Consider scaling into long positions while monitoring for RSI recovery above 30. Resistance awaits at the SMA cluster around $22.60-23.20, which could trigger short-term profit-taking.