According to Brave New Coin data, Avalanche (AVAX) is currently trading near $9.34, up 1.17% in the last 24 hours. Price action has remained tight between $9.13 and $9.33, with the asset sitting near a historically significant multi-year support zone. Many analysts consider the $8.5–$9.5 area a critical Point of Control (POC), where heavy prior trading activity has historically attracted buyers. If this zone holds, it could form a long-term bottom structure, but a breakdown below $8.5 would invalidate this thesis and open the door to deeper downside levels.
On lower timeframes, AVAX is trading within a rising channel, showing higher lows that suggest buyers are gradually stepping in. As long as it holds above channel support near $9.20–$9.30, the next target is the upper boundary near $9.65–$9.70. A breakout above this range could trigger a push toward $10.20–$10.50, where stronger resistance lies. Conversely, losing the ascending structure would send the price back toward $8.80–$9.00.
Despite supportive price structure, sentiment indicators remain cautious. Technical readings shared by analyst AvaxJ indicate a “strong sell” bias from moving averages, suggesting momentum is still weak. This divergence often creates choppy conditions, where price holds up but confirmation of a sustained recovery is missing.
However, ETF data tells a different story. Since their Nasdaq debut, nearly $36 million has flowed into AVAX ETFs, according to data shared by Nazoku. Additionally, a notable accumulation event saw 81,400 AVAX (worth around $767K) purchased from Coinbase, suggesting larger participants are quietly building positions during this low-confidence phase. This divergence between price weakness and steady inflows often points toward quiet accumulation by smart money before broader market momentum returns.
From a long-term perspective, analyst Crypto Patel suggests AVAX is in a clean accumulation range between $7 and $9. If this base holds, the next cycle could see prices targeting $50, $100, and even $150 in an extended bullish scenario, though these targets remain distant and require multiple confirmations.
In summary, AVAX is at a high-confluence zone with strong historical support, early accumulation signs, rising institutional interest, and a developing short-term uptrend. The key for bulls is holding above $9.00–$9.20 and breaking through $9.70–$10.50 resistance. A failure to hold support would likely lead to another leg lower toward $8.50.
