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After an 18% weekly drop, can AVAX halt the correction?

                                                            Der Preis von AVAX ist seit dem Allzeithoch von 147 $ um über 80 % gefallen, aber ist er kurz davor, einen Boden zu finden?

Key support level: $28, $20

Key Resistance Level: $32, $38

AVAX’s downtrend appears to have slowed as the price finds solid support at $28. At the time of this post, the cryptocurrency not ready to move lower and the bulls need to break the key resistance at $32 if they are to reverse the bearish momentum.
After an 18% weekly drop, can AVAX halt the correction?, Crypto Trading NewsChart from TradingView

Technical indicators

trading volume: Trading volume skyrocketed during the May 11 crash and has remained high ever since, with buyers coming in strongly whenever the price dipped below $30 – leading to a kind of local bottom in this area for now.

Airdrop from VNSMART After an 18% weekly drop, can AVAX halt the correction?, Crypto Trading News

RSI: The daily RSI managed to exit the oversold territory below 30 points but failed to recover much higher.

MACD: The daily MACD is bullish but is currently showing a lack of conviction on the part of buyers. The bulls need to break the key resistance to confirm this signal.
After an 18% weekly drop, can AVAX halt the correction?, Crypto Trading NewsChart from TradingView

bias

Alignment with AVAX is neutral. A disruption of the key planes is required to change this distortion.

Short term prediction for AVAX price

AVAX has closed the last seven weekly candles in red and is now approaching a moment where bulls may have a good chance to take over the price action and attempt a recovery. If they manage to break above $32 then Avalanche has a good chance of a relief rally.

Source: Crypto News Deutsch

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