On the daily and 4 hourly timeframes, AVAX USDT is trying to arrest the downward correction from highs. A close above the key 4 hour resistance at $31.51 is needed to confirm the change in short term trend.
On the downside, $30.94 is a critical support level to hold to sustain any upside momentum.
Daily Timeframe Analysis
- The price is currently trading at $32.11, near the 0.382 Fibonacci retracement level of $32.81.
- The nearest supply zone is between $35.25-36.51. Break above this zone could see a move towards the 0.786 Fib level of $38.73.
- The bearish fair value gap at $33.75-35.25 is an area of interest that could act as resistance on any upward move.
- Below here, support lies at the $30.95 0.618 Fib level. A break below this level opens the door for a re-test of the June lows.
Fibonacci Retracement Levels
0.382 | 32.81 |
0.50 | 34.54 |
0.618 | 36.27 |
0.786 | 38.73 |
0.882 | 40.14 |
Supply Zone
Zone Number | High | Low |
Supply Zone 1 | 36.51 | 35.25 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish FVG Zone 1 | 35.25 | 33.75 |
4 Hour Timeframe Analysis
- Price has found support at the $30.94 demand zone and the 0.618 Fib level, halting the downward move for now.
- The bearish fair value gap between $30.94-31.51 needs to be breached to add confidence to the short term bullish move.
- Above this, resistance lies at the $31.77 0.382 Fib level and the top of the demand zone at $31.51.
- A close above $31.51 is needed to target a re-test of the $32.81 daily 0.382 Fib level.
Fibonacci Retracement Levels
0.382 | 31.77 |
0.50 | 31.36 |
0.618 | 30.95 |
0.786 | 30.37 |
0.882 | 30.02 |
Demand Zone
Zone Number | High | Low |
Demand Zone 1 | 30.94 | 30.12 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish FVG Zone 1 | 30.94 | 31.51 |
1 Hour Timeframe Analysis
- Price pushed up from the $30.94 demand zone to test resistance at the $31.40-31.51 zone.
- The bullish fair value gap between $31.40-31.51 was tested but not breached, indicating indecision in the market.
- Support lies at the bottom of the demand zone and bullish FVG at $30.87-31.40. A break below opens up downside.
- A close above $31.51 is needed to confirm the short term trend has turned bullish and target $32.00+.
Fibonacci Retracement Levels
0.382 | 31.77 |
0.50 | 31.36 |
0.618 | 30.94 |
0.786 | 30.36 |
0.882 | 30.03 |
Demand Zone
Zone Number | High | Low |
Demand Zone 1 | 31.40 | 30.87 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG Zone 1 | 31.51 | 31.40 |