Avalanche’s native asset, AVAX, slipped by 1.82% in the past 24 hours, trading at $6.14. The token recorded an intraday low of $6.01 and a high of $6.60, with prices staying near the lower en
Avalanche’s native asset, AVAX, slipped by 1.82% in the past 24 hours, trading at $6.14. The token recorded an intraday low of $6.01 and a high of $6.60, with prices staying near the lower end of the range as broader market sentiment remains cautious. Avalanche, a leading blockchain platform recognized for decentralised application and digital asset transactions, currently finds market participants wary amid the recent pullback.
Analyst Trader Symba notes that for AVAX to regain upward momentum, the price must break above the $6.45 resistance. This critical level has previously been crossed briefly, but the price could not sustain itself, leading to renewed selling pressure. Analysts underline that bears remain active at the $6.45 mark, capping AVAX’s recovery attempts.
According to analysts, for AVAX to achieve a stronger short-term rebound, it is essential to reclaim and hold above the $6.45 level as support.
If AVAX pushes above $6.45 and defends that zone, the $6.60 to $6.65 range could come into play as the next target. However, another rejection at resistance may prompt a drop back to $6.10, and potentially test the $6.00 support area.
Some market observers are now turning their attention to the $6.65 threshold. Despite AVAX’s efforts to establish a base, the price continues to trade below the primary resistance band. Optimism for sustained gains in the short run, analysts say, will likely require not only a break above $6.45 but also confirmation above $6.65.
If AVAX can hold above $6.65, the short-term outlook could improve, with targets in the $6.90 to $7.00 region coming into view.
Failure to clear this level could leave AVAX trading in a narrow range between the $6.00 support and the $6.45-$6.65 resistance band, indicating a neutral to weak bias until a decisive breakout takes shape.
For traders focusing on shorter timeframes, the $6.00 – $6.15 range stands out as a core support zone. As long as this area holds, there is potential for AVAX to attempt another move toward $6.45. If this upper threshold falls, the $6.80 – $7.00 range could become the next major target.
On the on-chain side, recent data showed a significant withdrawal of 238,651 AVAX—worth approximately $1.5 million—by a large wallet from Bybit. While sizable withdrawals by major holders can sometimes suggest a reduction in selling pressure, analysts note this signal alone does not alter the broader technical landscape.
For downside scenarios, initial critical support is found between $6.05 and $6.00. A drop below this zone could open the way for further losses towards $5.85 and $5.70. If selling accelerates beyond these points, the wider support area at $5.50 could be tested.
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