$AVAX is trading inside a descending channel on the 1H timeframe, currently testing the lower boundary and looking ready for a potential breakdown. A retest of the broken level is expected.

RSI is trending downward, suggesting continued pressure. Price is approaching the 100-period MA, which supports the case for a short-term decline. Key resistance sits around 8, a level previously respected multiple times.

Entry: 9.12

Targets:

9.21

9.34

9.53

Stop Loss: At the green resistance zone

Remember: proper risk management always comes first.