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analysis $AVAX.
What's on the chart? After a long grind lower, the asset has finally reached the bottom of the range and started building a base. Price is chopping between $8.3-9.8 right now, and it looks like an attempt to stabilize after that leg down.
📈 It'd be nice to see it hold above $9.8-10.0 and start forming higher lows (HL).
If it pulls it off, $AVAX has room to bounce to $10.77-11.54. That's roughly +10-17% from current levels, and then we could see a more meaningful recovery. But I'm keeping it real, and as long as price stays below and doesn't clear that level, we're eyeing shorts.
💸 A breakdown below the range opens the door to $5.8, which is about -35-40% potential profit on the short side. No entry points here, this is just analysis, not a signal.
$AVAX
{spot}(AVAXUSDT)