- AVAX price shows early signs of recovery but faces strong resistance at $15.
- Avalanche trades near a key support zone, which has bounced prices in the past.
- A breakout above $15 could trigger a bullish trend for AVAX in the near term.
Avalanche (AVAX) has been experiencing a slow recovery after a significant price drop, with the token currently trading at $13.29. The price is inching closer to a crucial resistance zone around $15, a level that has historically caused rejections.
Although there are early signs of positive momentum, analysts remain uncertain whether this movement marks the beginning of a strong rally or a temporary upward push.
The market’s focus is on whether AVAX can break through the $15 barrier. The token’s price has shown slight upward movement recently, but the resistance at $15 remains a major hurdle.
Key Support and Potential for Bullish Breakout
Analyst Jonathan Carter has pointed out that AVAX is testing the upper boundary of its long-term trading range. Historically, this zone has been a point of strong rejection, but there are signs of growing buying pressure.
If the price manages to break above the $15 resistance, AVAX could experience a sharp rally. Support levels for the token are seen at $18, $21, and $24, with an even more optimistic scenario seeing the price reaching $35.
However, Carter also mentioned that failing to break $15 may lead AVAX back into its bearish trend.
Another analyst, Altcoin Pioneer, highlighted the significance of the $13–$13.50 range. This region has been pivotal for AVAX in the past, providing strong support during previous market downturns.
Testing Historical Levels
Avalanche is once again at a critical point where its price is testing levels that have marked turning points in the past. The $13–$13.50 zone has historically been a reliable support level for AVAX, even during the harshest market conditions in 2022.
Now, as the token nears this zone again, market watchers are paying close attention to whether this support will hold or if the price will break through to lower levels.
Avalanche’s price movement has been forming a descending trendline since its peak in 2021. This trendline has guided AVAX’s price for several years.
Currently, it is testing the upper bounds of its range, and the outcome of this test will likely dictate the token’s short-term direction. Whether the price breaks out above $15 or fails to do so will be a key determinant of its future momentum.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
