Market Overview for Avalanche/Tether USDt (AVAXUSDT) - 24-Hour Summary

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• AVAXUSDT rallied to a 24-hour high of $29.99 before consolidating into a $28.96–$29.48 range.
• Key resistance at $29.37 and support near $28.96 shaped short-term volatility and volume spikes.
• Increased volume during the upward breakout suggests potential bullish momentum, though consolidation may precede a directional shift.
• RSI and MACD indicate waning short-term momentum, with a possible near-term pullback expected.

Avalanche/Tether USDt (AVAXUSDT) opened at $28.63 on 2025-09-10 at 12:00 ET, reached a high of $29.99, and closed at $28.96 as of 2025-09-11 at 12:00 ET. The pair traded within a $1.52 range, with total volume of ~5.2 million AVAX and notional turnover of ~$149.4 million over the 24-hour window.

Structure & Formations

AVAXUSDT’s price action formed a strong bullish breakout candle (29.14–29.99) at 04:15 ET, followed by a bearish reversal at 04:30 ET and a consolidation phase between $28.96 and $29.15. Key support levels emerged at $28.96 and $28.86, while $29.37 and $29.46 served as strong resistance levels. A potential bullish engulfing pattern was observed during the early morning hours, followed by a bearish harami formation after the breakout, suggesting indecision in the market. A long-legged doji at $29.20 indicated uncertainty during the consolidation phase.

Moving Averages

The 15-minute chart saw the price trading above the 20 EMA for most of the session but fell below the 50 EMA during the consolidation phase, indicating a potential shift in near-term sentiment. On the daily chart, the price traded above both the 50 and 200 EMA, reinforcing a medium-term bullish bias despite short-term pullbacks. The 100 EMA acted as a dynamic support level during the consolidation, with price bouncing off it multiple times.

MACD & RSI

The MACD crossed into bullish territory after the breakout, with a positive histogram peak observed around 04:30 ET before diverging with the price as the rally slowed. RSI reached overbought levels (~75) following the $29.99 peak and quickly fell into neutral territory, indicating a potential pullback was imminent. RSI has since stabilized around 55, suggesting the asset may be entering a balanced phase. A bearish divergence between the RSI and price in the consolidation phase may signal a potential near-term correction.

Bollinger Bands

Volatility expanded significantly during the breakout phase, with the bands widening to a range of ~$1.52. Price traded near the upper band during the peak and quickly moved back toward the center, indicating a temporary overextension. In the consolidation phase, the bands narrowed, suggesting a period of reduced volatility. The price currently sits near the middle band, which may serve as a potential pivot point in the near term.

Volume & Turnover

Volume spiked during the breakout (around $29.99) with a 15-minute candle showing ~414,505 AVAX traded, compared to an average of ~70,000 AVAX per candle. However, volume declined significantly during the consolidation phase, suggesting a lack of follow-through in the bullish move. Notional turnover peaked around $150 million, with volume and price aligning during the breakout but diverging during the consolidation, hinting at potential exhaustion in the current rally.

Fibonacci Retracements

Using the recent swing high of $29.99 and swing low of $28.96, key Fibonacci levels for the 15-minute chart include $29.74 (23.6%), $29.48 (38.2%), and $29.19 (61.8%). The price found support at the 61.8% level ($29.19) and the 38.2% level ($29.48), indicating these areas could continue to act as dynamic pivot points. On the daily chart, the $29.15 level aligns with the 50% Fibonacci retracement of the broader uptrend, suggesting it may hold in the short term.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions at the 50 EMA on the 15-minute chart with a stop-loss placed below the 20 EMA, and exiting when the price closes below the 50 EMA or when the RSI falls below 50. A short position could be triggered on a break below the 61.8% Fibonacci level with a stop above the 38.2% level. This strategy aims to capture both continuation and reversal patterns, leveraging the observed volatility and key support/resistance levels.