Avalanche (AVAX) has faced bearish pressure lately, pushing the price toward critical levels. Crypto analysts are watching to see whether AVAX will bounce or break lower. Analyst YG Crypto shared a price analysis on X, outlining key support and resistance levels for traders to monitor.
What you'll learn 👉
AVAX Tests Crucial Support Zone
The analyst noted that AVAX is testing the $35.15 – $35.70 support range. This level has historically acted as a strong demand zone where buyers have stepped in.
According to YG Crypto, holding this range could trigger a price rebound toward $38 – $40. However, a break below may push AVAX to its next support level between $33.30 – $34.00.
The analyst highlighted that this area could see increased volatility, with stop losses triggering further downside pressure.
Potential Price Scenarios for AVAX
Market sentiment remains divided. If AVAX holds the $35 support, bullish momentum could return, leading to a breakout above $37. Such a move could set the stage for a mid-term rally to $40 – $42.
However, a close below $35.00 would indicate weakness, with AVAX potentially dipping toward the $33.30 – $34.00 range. A failure to hold there could push prices even lower to $31.50 – $32.00.
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Market Trends and Avalanche’s Price Action
The broader market remains volatile, with AVAX showing large wicks near demand zones. The price has tested the $35 range multiple times, reinforcing its importance as a pivot point.
However, the presence of lower highs since mid-January suggests a weakening bullish structure. If buyers fail to regain control, bears could drive prices lower in the coming days.
At press time, AVAX is priced at $34.97, just below the key support highlighted by YG Crypto. Moreover, this value reflects a 5.42% decline in the past day. Over the last week, the token has dropped 9.58%, aligning with the recent market downturn.
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