$AVAX

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The market structure has recently shifted from a strong bullish impulse to a consolidation phase; after a sharp breakout from the $7.775 base, the price established a local high at $9.013 but has since failed to hold the upper Bollinger Band, leading to a pullback that is currently testing the midline (MB: $8.595) as dynamic support. The K-line analysis reveals a series of lower highs following the peak, indicating short-term exhaustion, yet the price is holding above the 8.338 level which aligns with the middle of the current trading range.

Candlestick Pattern & My Prediction.

The most recent candles exhibit a pattern of indecision with small bodies and wicks, specifically showing a doji-like formation near the middle Bollinger Band, signaling a pause in the downtrend from the $9.00 peak. My prediction is that we are seeing a "bull flag" consolidation; the MACD histogram is receding (red bars shrinking) and the DIF/DEA lines are flattening near the zero line, suggesting the selling momentum is fading and a bounce from the $8.33 - $8.50 support zone is likely to test the $8.86 upper band again.

Trading Plan, Rationale & Entry.

The trade plan I will follow is a Trend-Continuation Long strategy, executed by entering a long position if the price confirms support at the middle Bollinger Band ($8.595) or slightly lower at the current $8.338 level. I follow this plan because the broader trend remains upward (evident by the green Bollinger Bands and the significant volume during the previous pump), and the current pullback is a healthy retracement rather than a reversal. I will wait to start my trade until I see a bullish engulfing or strong green candle close above $8.40 on the 1-hour chart to confirm buyers are stepping back in, avoiding a "falling knife" scenario.

Cautiously Bullish. The asset is in a consolidation phase within an uptrend. The setup favors buyers as long as $7.97 (24h Low) holds, with a primary target of $8.86 and a secondary target of $9.01.