AVAX has surged over 9% in 24 hours to $32.55, breaking above key moving averages. However, RSI at 87.7 indicates extreme overbought conditions, suggesting potential for a pullback. Recent support around $29.50-$29.60 provides a good entry zone if prices retreat.
Current Market Position
AVAX is trading at $32.55, well above both the 20-day SMA ($30.97) and 50-day SMA ($30.45), indicating strong bullish momentum. The 9.45% 24-hour gain shows significant buying pressure.
Overbought Warning
The RSI reading of 87.7 is extremely high (above 70 is overbought). This suggests the price may be due for a correction as buyers become exhausted at current levels.
Support and Resistance Levels
Key support levels are around $29.50-$29.60 (recent local lows). Resistance appears near $32.80-$32.90 (recent highs). The price has broken above previous resistance around $30.67.
Trading Strategy
Wait for a pullback to support levels around $29.50-$30.00 for better risk-reward entry. Current prices are too high for new buys. Consider taking profits near $32.80 if holding from lower levels.
Risk Management
Use stop-loss orders below $29.00 if buying. The high RSI and rapid price increase increase short-term risk. Only risk what you can afford to lose.
Beginner Recommendations
Advice: hold
Buy Price: 29.6 USDT
Sell Price: 32.8 USDT
Key metrics
| Price | 32.5500 USDT |
| 24h Change | 9.45% |
| RSI(14) | 87.70 |
| SMA20 / SMA50 | 30.97 / 30.45 |
| Daily Volatility | 4.64% |
| Sentiment | Bearish |
| Risk level | High |
Disclaimer: this material is for educational purposes only and does not constitute financial advice. Cryptocurrencies are highly volatile; always assess your own risk, investment horizon, and do your own research.
