Market Overview: Avalanche/Tether (AVAXUSDT) 24-Hour Analysis (2025-11-11)

Summary
• Price action showed a bearish trend, closing near the session low at 17.79.
• Volatility expanded during the overnight session, with a 24-hour high of 18.61.
• On-balance volume indicates moderate selling pressure during price retracements.

Avalanche/Tether (AVAXUSDT) opened at 17.82 on 2025-11-10 at 12:00 ET and closed at 17.79 on 2025-11-11 at 12:00 ET, recording a 24-hour high of 18.61 and a low of 17.63. Total traded volume reached 1,417,638.81 AVAX, while notional turnover hit $24.49 million.

Structurally, the price has tested a key descending resistance line from 18.61, failing to hold above 18.33 before retreating toward support near 17.81. The bearish engulfing pattern observed at the 18.33-18.16 level on 11-10 23:15 suggests a shift in sentiment. A doji near 18.17–18.15 on 11-11 00:00 may indicate a short-term equilibrium point.

The 20-period and 50-period moving averages on the 15-minute chart confirm a short-term bearish bias, with price consistently below both. On the daily chart, the 50-period MA is approaching the 17.88 level, potentially offering a medium-term support. RSI has remained in the 40–55 range, suggesting neutral momentum with no clear overbought or oversold conditions. MACD has crossed into negative territory, reinforcing the downward bias, but the histogram has flattened slightly, hinting at possible exhaustion in the downward move.

Bollinger Bands expanded significantly between 11-10 23:00 and 11-11 01:30, with price reaching the upper band at 18.61 before a sharp reversion. Currently, the price sits within the bands, closer to the lower band, indicating moderate bearish pressure. Notable volume spikes occurred near key swing highs (18.33–18.16) and lows (17.91–17.84), suggesting accumulation by strategic players. No significant price-turnover divergence was observed, indicating volume is aligning with the downward trajectory.

Fibonacci retracement levels applied to the 18.61–17.63 swing show the 61.8% retracement at 17.97, which held briefly but failed to provide lasting support. The 38.2% level at 18.16 was tested multiple times and may act as a dynamic resistance on the way back up.

MACD and RSI have consistently pointed to a bearish bias, with the MACD death cross occurring during the early part of the 24-hour period. The backtest results for AVAX/USDT show that the MACD death cross has historically led to mixed outcomes, with no strong statistical edge over a 30-day horizon. On this occasion, the death cross may suggest a continuation of bearish sentiment, but caution is warranted given the neutral momentum readings.