Market Overview for Avalanche/Tether (AVAXUSDT)

Summary
• Price surged to 12.37 on 24-hour 5-minute data, forming bullish divergence with volume.
• RSI reached overbought territory near 72, suggesting short-term exhaustion.
• Bollinger Bands widened post-16:00 ET, signaling increased volatility.
• Key support at 12.10–12.15 held, with a potential resistance zone forming at 12.35–12.40.

Avalanche/Tether (AVAXUSDT) opened at 11.97 on 12:00 ET–1, rose to 12.45, and closed at 12.41 by 12:00 ET. Total volume was 829,449.18, with notional turnover reaching $10,297,647.24.

Structure & Formations

Price tested key resistance levels multiple times, notably at 12.15–12.20 and 12.35–12.40, with the latter attracting significant buying interest in the last 2.5 hours. A bullish engulfing pattern formed around 08:15–08:30 ET, reinforcing the upward bias.

Moving Averages and Momentum

On the 5-minute chart, the 20-period and 50-period moving averages were in a bullish alignment by late morning, supporting the continuation of the rally. MACD showed a positive divergence in the latter half of the day, suggesting momentum was not yet exhausted.

Bollinger Bands and Volatility

Bollinger Bands expanded after 16:00 ET, aligning with increased volume and price volatility. Price remained within the upper band during the final 4 hours, indicating strong buyer participation.

Volume and Turnover

Volume and turnover showed synchronized increases after 15:30 ET, confirming the recent break above 12.35. A minor divergence appeared between 10:45–11:00 ET, where price fell while turnover remained flat, suggesting a potential short-term reversal signal.

Fibonacci Retracements

The 5-minute retracement levels showed a strong reaction at the 61.8% level of the 12.05–12.45 move (around 12.24–12.26), which acted as a pivot. On the daily chart, the 61.8% retracement of the 12.00–12.40 swing (around 12.24) also held as a critical support.

AVAXUSDT may continue to consolidate above 12.35 in the next 24 hours, but a test of 12.10–12.15 could occur if a pullback develops. Investors should watch for a breakdown below 12.20 as a potential sign of reversal.