Avalanche (AVAX) price is facing increasing pressure and is trending downward, threatening to break below key support levels. Let's analyze potential future trajectories.
Current Market Trends for AVAX
As of the analysis, the AVAX price was trading around $18.00, having dropped 2.34% for the day. This decline is part of a broader bearish trend that began in late May, with price slipping from around $24.
Key Support Levels for AVAX
Support levels are crucial in assessing downside risk. The current support levels are as follows:
* Immediate support: $17.73 (tested today) * Next major support: $15.20 * Critical support: $13.40 * Crash-level support: $8.00 – last defense before a potential drop.
Prospects of Dropping to $5
A drop to $5 from the current $18 price represents a 72% decline. For this to happen, the following conditions would be needed:
* Macro crypto collapse * AVAX-specific news * Market-wide panic selling triggered by unexpected events.
The AVAX price is under pressure, and its current movement requires a cautious approach. If the $17 level breaks on volume, the next likely targets may be the $15–$13 zone.
