Avalanche Price Alert: AVAX Plunges Toward $9 as Bears Take Control

Avalanche (AVAX) is getting crushed. The token nosedived toward $9 as selling pressure overwhelms the market—proof that even layer-1 chains aren't immune to crypto's mood swings.

Technical breakdown: The charts show a classic bearish pattern. Every minor rally gets sold into, and support levels are crumbling faster than a Bitcoin maximalist's patience.

What's next? If $9 fails to hold, we could see a retest of June 2025 lows. But here's the twist: smart money might be accumulating at these levels while retail panics. Typical.

Remember: In crypto, the 'fundamentals' only matter until they don't. Watch the price action, not the whitepapers.

Momentum Weakens as AVAX Struggles to Hold Support

According to the data curated from TradingView, Avalanche (AVAX) continues to fall victim to the bears, as well as to deteriorating momentum indicators.

The chart shows AVAX priced NEAR $12.80, which is near immediate support ($12.00-$12.50). AVAX’s relative strength index (RSI) is around 31-33 and continues to represent aggressive selling, with no bullish divergence to create any sense of buying pressure.

On-Balance While the RSI is declining, the On-balance Volume (OBV) is also declining and is consistent with distribution and not accumulation. Together, these indicators suggest that the bears maintain significant control of Avalanche and that the area of support is weakening.

Moving Averages Reinforce a Strong Downtrend

The TradingView chart reinforces the overall bearish sentiment concerning Avalanche by showing price action breaking well below both 50-day and 200-day moving averages. Both of those averages have been moving down in parallel, illustrating an established downtrend for the asset.

AVAX has faced multiple rejections at the $17 price point as well, showing a lack of ability of buyers to reverse the bearish momentum established by the bears. The volume has also been declining, supporting this bearish thesis and establishing a lack of demand at the present price points of AVAX.

Analyst Projection Signals Possible Drop to $9

According to Ali_Charts’ recent update, the formation of a right-angled ascending broadening wedge indicates the potential for a significant drop to $9.00 support, showing additional weakness in AVAX as per both the TradingView chart and the analyst’s chart.

A right-angled ascending broadening wedge breakout puts Avalanche $AVAX on track for $9. pic.twitter.com/dZyct96Tky

In conclusion, the bearish outlook remains for AVAX until it recaptures the $16.95-$17 resistance area. If AVAX breaks below $12.00, the bearish target WOULD increase from $10.50-$11.20 to the deeper target of $9.00.