- Avalanche price is heading lower again as the US trading session gets underway on Wednesday.
- AVAX has bears building pressure on $14.56 in a bearish triangle setup.
- Another 10% drop is at hand once bears advance beyond the current triangle’s base.
Avalanche (AVAX) price is continuing its decline at a slow grind as a bearish triangle has been formed on the charts – a recognizable pattern. Pressure is building again with investors on edge as plenty of tail risks exist. Expect to see a sharp leg lower once the floor in the triangle breaks at $14.56, and we could see AVAX trading near $13 very quickly.
AVAX price to undergo more pain with no turnaround nearby
Avalanche price is gearing up for another landslide victory for the bears as there is no end in sight just yet in this painful trade. Another bearish element is perceived from the charts as a bearish triangle is at hand. Another 10% drop should materialize on the back of this bearish triangle that is slowly but surely nearing its end game of a break lower.
AVAX traders will watch $14.56, which acts as the base for the bearish triangle in this process. Once that gives way, after firm support last Friday, a quick nosedive move will be next. Expect a sudden drop to $13 with the monthly S2 support nearby for support.
AVAX/USD 4H-chart
However, support could still hold, and a break above the red descending trend line would be a massive bullish signal to investors and traders. In that case, expect bulls to rally higher here in a quick knee-jerk correction. Although quite far off, $16 will be in the cards with the 200-day SMA as a first big cap on the topside to test.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Today: SHIB, Pi Network and DOGE emerge as top gainers as Bitcoin crosses $2T market cap
Bitcoin price hits $105,800, claiming the $2 trillion valuation milestone, after US and China confirmed a temporary trade agreement to lower tariffs. Shiba Inu, Pi Network and Dogecoin emerge as top gainers among the 20 main crypto assets.
Dogecoin price 40% surge tests crucial resistance amid easing trade tensions
Dogecoin (DOGE) rally gains bullish momentum to exchange hands at $0.25 at the time of writing on Monday. Since the tariff-triggered crash on April 7, the largest meme coin by market capitalization has edged higher on easing trade tensions.
Bitcoin Price Forecast: BTC edges closer to all-time high as US-China trade deal cheers markets
Bitcoin price stabilizes around $104,000 on Monday after rallying 10.44% the previous week. Risk-on gains traction as the US and China agree to major tariff reductions for 90 days.
Sui eyes new record high as network redefines AI, gaming and DeFi
Sui price tests above $4.00 for the first time since early February, upholding a broad-based bullish momentum. Sui is crafting a new ecosystem, redefining how builders and users interact with AI, Gaming and DeFi.
Bitcoin: BTC bulls aim for $105,000 after nearly 10% weekly gains
Bitcoin price stabilizes around $103,000 on Friday after rallying nearly 10% this week. Risk-on sentiment prevails as Trump announced a trade deal with the UK and ahead of the meeting with China this weekend.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.