Avalanche (AVAX) Surges 53% Since March 11 but Faces Sell Signal

Avalanche (AVAX) has risen over 53% since March 11, recovering from a significant drop that saw it lose more than 72% of its value since mid-December 2024. This rebound has generated cautious optimism among investors.

Key points include:

AVAX is struggling to maintain a position above $22, a crucial resistance level.
Analyst Ali Martinez indicated the TD Sequential indicator is showing a sell signal, suggesting a possible short-term pullback or sideways movement.
Macroeconomic volatility continues to pressure risk assets, including cryptocurrencies.
AVAX is currently trading at $21.80 after reaching $23.40 recently.
Bulls need to defend current levels and aim for a breakout above $30, which aligns with key moving averages.
A breakdown below $20 could indicate increased selling pressure, potentially pushing AVAX toward the $17 support zone.

The market remains uncertain, making upcoming price action critical for determining AVAX's short-term direction.