- AVAX holds a critical $10-$14 support zone tested since 2021 despite recent losses.
- Descending triangle pattern suggests breakout potential toward $100-$140 if resistance is broken.
- Rising DEX and futures volumes show increased trading interest amid price swings.
Avalanche (AVAX) is at a critical point where it is testing a solid support zone around $23. Traders are also closely monitoring a breakout of the falling triangle that may lead to a big price move after several weeks of downward movement.
AVAX Near Crucial Support Amid Price Drop
Avalanche (AVAX) is evaluating one of the essential support levels following a difficult week. It costs approximately 22.97, which is more than 23% lower than the week. Even with this drop, AVAX is holding above a strong demand zone between $10 and $14. This zone has acted as a reliable floor since 2021, helping the price bounce back several times, including the recent sharp recovery after a dip.
On the weekly Binance chart, AVAX is facing a long-term downward trendline from its all-time high in late 2021. This line has kept the price from moving higher, with several lower highs forming. Each time AVAX tried to break above it, the price has pulled back. If AVAX could push up toward the $100 to $140 range.
Descending Triangle Pattern Shows Possible Breakout
The support zone between $10 and $14 is critical to keep the bullish case alive. A clear move above would suggest a reversal after years of sideways action. On the other hand, if price falls below this support, further losses could follow.
Trading volume adds an interesting angle. Decentralized exchanges (DEXs) are showing a spike in activity and have recorded $820 million in 24-hour volume. High volume like this often leads to sharper price moves.
At the same time, futures markets on Binance and Bybit have seen huge volume increases — over 300% and 500%, respectively — as traders position for volatility.
Source Marc Brown Via X
Market Activity Mixed but Active
While selling pressure has pushed the price down, futures open interest has dropped by 30-50%, indicating many traders are closing their positions. Funding rates remain negative, with short positions slightly outnumbering longs, adding downward pressure to the price.
Avalanche’s market cap is around $9.56 billion, with about 422 million tokens circulating. The coin is facing a tough market but remains a focus for traders because of the strong support and increased volume.
AVAX is above the trend line that it is declining on, which might be the beginning of another positive trend. In the meantime, it is important that the bulls hold above the support zone of $10-14.
