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

Summary
• Price action saw a distinct bearish pivot from $13.83 to $13.52, forming a large bearish engulfing pattern.
• RSI dipped into oversold territory below 30, while MACD showed a bearish crossover and declining momentum.
• Bollinger Bands tightened before the sharp drop, signaling heightened volatility.
• Volume surged during the decline, validating the bearish move.
• Fibonacci retracement levels suggest potential support near $13.47–$13.53 and resistance at $13.61–$13.67.

Avalanche/Tether (AVAXUSDT) opened at $13.81 on 2026-01-17 12:00 ET, reached a high of $13.84, a low of $13.50, and closed at $13.52 at 12:00 ET on 2026-01-18. The 24-hour volume was 297,378.47 and the total turnover amounted to $4.03 million.

Structure and Key Levels

Price formed a bearish engulfing pattern during the early ET hours, confirming a shift in sentiment. The move down to $13.50 tested a recent support level, with Fibonacci retracement indicating possible bounce support around $13.53. Resistance levels at $13.61 and $13.67 appear critical for near-term direction.

MACD and RSI Signals

The RSI dipped below 30 during the late ET hours, entering oversold territory, while the MACD line crossed below the signal line, reinforcing bearish momentum. Although the RSI suggests short-term potential for a rebound, the MACD remains bearish, indicating caution.

Bollinger Bands and Volatility

Volatility showed a contraction before the sharp decline, with the price breaking below the lower Bollinger Band as it dropped. This widening of the bands suggests increased uncertainty and potential for further swings.

Volume and Turnover

Volume spiked during the drop, especially as price fell below $13.60, validating the bearish move. Turnover aligned with the price drop, with no significant divergence observed. This suggests the sell-side pressure was genuine and not a false breakdown.

A potential bounce off the $13.50–$13.53 level could test the 38.2% Fibonacci retracement at $13.61, where a reversal might occur. However, traders should remain cautious of a break below $13.50, which could extend the decline further.