• Avantis (AVNT) drops 6.96% in 24 hours, but a 9.17% rise in the past week shows potential for growth.
• AVNT’s critical support zone is between $1.47 and $1.59, failure to hold this level could reverse the bullish trend.
• Analysts suggest waiting for a dip around $1.00–$1.20 for a potential upward move towards $2.70.

Avantis (AVNT) is currently trading at $1.54 with a 6.96% decline over the past 24 hours. Despite this decline, the coin has exhibited significant volatility in recent weeks. Its trading volume has fallen by 31.23%, and it is standing at $798.215 million. However, AVNT rose by 9.17% in the past seven days, which implies that even though the market is rather volatile currently, there is still room to gain.

Source: CoinMarketCap

Avantis Price Pullback and Key Support Levels

CryptoPulse, a well-known analyst, highlighted the market performance of AVNT, pointing to a typical breakout trend with a retest. The coin has enjoyed robust rising trends but is now reversing. There is a critical support zone formed between $1.47 and $1.59.

This is a former resistance zone that has now gotten support. Provided that AVNT does not leave this range and exhibits a tendency toward a turnaround, the bullish trend might persist. However, if the price reaches a lower point and consolidates, the optimistic prognosis may lose its validity.

Source: X

Another analyst, CryptoZee, revealed that investors wait for a dip to enter. He found an important support area around $1.00 to $1.20. This range is considered a competitor entry point. Should Avantis fly out of this region, the price may increase to a goal of $2.70. Such a turnabout would be symbolic of a further upward move, which could lead more buyers to the market.

Source: X

RSI and MACD Indicate Potential Market Shift

The Relative Strength Index (RSI) stands at 43.15, and this indicates a neutral market sentiment. This indicates that the coin is neither overbought nor oversold. The future price movements have the potential to steer the market either way. The RSI overshooting 50 can be a positive sign of an upward trend. 

Also Read: Solana Price Gains as Canary Capital Files SEC ETF Proposal for SOL

The Moving Average Convergence Divergence (MACD) indicates slight negative divergence. The MACD line stands at 0.00, and the histogram shows small negative bars. This shows declining bullish momentum. 

Source: TradingView

AVNT Shows Bearish Trends with Decreased Volume

CoinGlass data indicates that the trading volume is down by 48.03% to $1.11 billion. Open Interest has also declined by 9.53%, as it has reached $143.37 million. The Avantis OI-Weighted Funding Rate stands at -0.0096%, which is relatively bearish.

Source: CoinGlass

The Avantis prospect is still pessimistic. The future existence of the coin will be pegged on possessing crucial support areas. As long as AVNT is able to stay within the range of $1.47 and $1.59, it can carry on with its bullish trend. Otherwise, these levels may turn the market sentiment on the bearish side. 

Also Read: ASTER Eyes $10 Target After TRUMP TRUTH SOCIAL Adds $166 Million Investment