AVAX’s rally is not over yet - But bulls should be wary of a break below $20

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AVAXs rally is not over yet – But bulls should be wary of a break below $20

The surge led to an 18.23% rally, topping out at $21.53 before slightly cooling off. As of this writing, AVAX sat at $21.22, still holding a 2.12% daily gain, while the market cap rose to $8.94 billion.

Buy walls rising — Spot traders step in

According to Coinalyze, Buy Volume hit 481K, while Sell Volume came in slightly lower at 430K, yielding a positive Buy-Sell Delta of 50K — a bullish spot market sign.

In fact, this was a recovery from the 12th of July, when Sell Volume spiked to 1.53 million and Buy Volume dipped to 1.51 million, briefly handing power to bears.

Source: Coinalyze

Source: MobChart

This tilt in real-time trading sentiment added fuel to the rally.

Futures still eyeing a rally

Avalanches Funding Rates have stayed positive for five straight days, per Santiment, with the press time reading around 0.00616%.

Source: Santiment

On top of that, Coinalyzes Long/Short Ratio climbed to 3.883, with longs accounting for a hefty 79.18% share.

Source: Coinalyze

What are analysts saying？

Source: X

AVAX momentum indicators say…

Source: TradingView

If AVAX holds momentum and flips $22.75 into support, the next stop could be $24.40.

However, a break below $20.01 could drag the price down to $17, especially if sellers regain control and spot support vanishes.