The bearish signal for AVAX has confirmed a potential 25% decline, raising concerns among investors about its near-term outlook. Despite a recent 2.8% increase in price, the Fisher Transform Indicator suggests a further downside movement, possibly reaching $17.5. In a bullish scenario, AVAX could rebound if it holds its support level and attracts enough buying pressure, potentially reaching $40.
The cryptocurrency market as a whole is experiencing turbulence, but AVAX’s position as a layer-1, proof-of-stake blockchain with high transaction throughput and fast finality times may give it an edge, contributing to its resilience in market downturns. For short-term traders, monitoring key support and resistance levels is essential, as a breakdown below $24.80 could lead to further declines, while a breakout above $28 could signal a bullish reversal.
