AVAX charts show triangle consolidation with mixed signals | Credit: Hameem Sarwar
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Key Takeaways
Avalanche’s price has declined 10% to $22.82, consolidating inside a symmetrical triangle.
Technical signals are mixed as CMF has turned positive while the Supertrend remains bearish.
Key levels to watch include $22.87 and $25.42; holding support could set up a breakout.
The Avalanche (AVAX) price has remained below $30, extending the cryptocurrency’s period of subdued performance.
Yet a combination of ecosystem adoption and shifting market sentiment could determine whether the token can reignite momentum.
At press time, the AVAX price is $22.82, representing a 10% decline over the past seven days. In this analysis, CCN explains why the price has dropped and what the altcoin needs to invalidate the bearish outlook.
AVAX Hovers at Support
On the daily chart, AVAX’s price consolidates inside a symmetrical triangle, a pattern that signals an upcoming decisive move. Right now, the token is pressing against the triangle’s lower boundary, a critical level determining its short-term direction.
If AVAX fails to hold this support, the price could break down from the pattern, opening the door to sharper declines as selling pressure accelerates.
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On the other hand, if bulls defend the boundary and spark a rebound, AVAX may resume consolidating within the triangle, keeping the potential for an eventual bullish breakout alive.
However, bulls appear ready to defend the lower trendline and prevent AVAX from breaking down. One key reason is the Chaikin Money Flow (CMF), which has climbed above the zero line at press time.
This shift signals that capital inflows outweigh outflows, suggesting renewed buying interest in the token.
As long as the CMF holds in positive territory, bulls may have enough momentum to keep AVAX’s price above support and potentially set the stage for another attempt at an upside breakout.
Should this trend accelerate, bulls might defend the support at $16.39. If that happens, AVAX’s next target could be to test the resistance at $26.27.
Should bulls build on this trend, AVAX’s price might break the resistance at $27.97. If that happens, this could be the stepping stone for the altcoin to breach $30 and rise to $31.59.
In a highly bullish scenario, the cryptocurrency could rise to $36.21. Conversely, if selling pressure increases, its value might slide to $19.73.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
