Avalanche price analysis (Neutral) — 28.54 USDT (-0.77% 24h)

AVAX is currently trading at $28.54, showing a slight decline of -0.77% over the past 24 hours. The price is sitting just below both the 20-day SMA ($28.88) and 50-day SMA ($28.72), indicating potential short-term bearish pressure. However, the RSI reading of 41.4 suggests AVAX is approaching oversold territory, which could present a buying opportunity for swing traders. The 24-hour volume of $111.7 million shows decent market participation. Given the current technical setup, I would recommend accumulating positions near the $28.00 support level with a stop loss below $27.50. A break above the $29.00 resistance could signal momentum building toward the $30.00 psychological level. Monitor Bitcoin’s movement closely as it will likely influence AVAX’s direction.