$AVAX Now it has fallen to 6.42, down another 3.3% over the past 24 hours. Trading volume is 160 million USD, and volume is still expanding—suggesting the shorts are hitting it pretty hard. RSI has dropped straight to 19, which is in the severely oversold zone. At this point, you often see a technical rebound, but the trend is still dominated by the bears—don’t rush to bottom-fish.
A 5.2% amplitude isn’t small, indicating intense battles between bulls and bears. A sell-off on rising volume plus oversold conditions could mean the market may accelerate as it tries to find a bottom in the short term, but the right-side signals haven’t appeared yet. In terms of strategy, either wait for stabilization and then look for a confirmed high-volume bullish candle, or take a small position to test an oversold bounce with a tight stop-loss. Don’t fight the trend—wait until the short side runs out of steam.
What do you think? Let’s discuss in the comments.
$AVAX #Avalanche #Crypto market