|

Here’s what to do if you missed the recent AVAX price rally

  • AVAX price is likely to pull back after its 22% rally to the $25.83 support level, providing an opportunity for the next leg.
  • The retracement is key in determining if it investors should add more to their holdings or consider booking profits.
  • A daily candlestick close that flips the $25.83 level into a resistance barrier will invalidate the bullish thesis.

AVAX price shows no signs of stopping as it bounced off a stable support level on August 2 and triggered a massive run-up. This move seems to have reached an upper limit for now and is likely to pull back a little. 

AVAX price remains unfazed

AVAX price surged 32% between July 26 and July 30, creating a range, extending from $19.54 to $25.83. This massive move retraced to the range’s midpoint at $22.68 over the next two days, forming a base for the next leg-up.

Soon enough, AVAX price kick-started its next ascent to the first target at $28.17. As investors continue to book profits, the uptrend is likely to exhaust a little, leading to a potential retracement to $25.83.

If this move shows strength after a pullback and holds above the aforementioned level, investors can bid here and expect the next target at $30.25 to be tagged. In total, this move would constitute a 17% ascent and is likely where the upside is capped for AVAX price.

AVAX/USDT 1-day chart

AVAX/USDT 1-day chart

While the outlook for AVAX price is bullish, without a doubt, investors need to pay close attention to the upcoming pullback. A retest and hold of the $25.83 support level will be a positive development.

However, if AVAX price produces a daily candlestick close below the aforementioned level, flipping it into a resistance level, it will invalidate the bullish thesis and potentially trigger a deeper pullback to 23.93 or $22.68.

Author

Akash Girimath

Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.

More from Akash Girimath
Share:

Editor's Picks

US Fed rate hike fears weigh on Bitcoin – TAO, ADA sustain gains

The broader cryptocurrency market maintains risk-off sentiment ahead of the US Federal Reserve interest rate decision on Wednesday. Bitcoin holds above $63,000 on Wednesday, while Bittensor and Cardano sustain gains from the previous day.

Bitcoin slips below support, Ethereum and XRP flash bearish signals

Bitcoin, Ethereum and Ripple remain under pressure on Wednesday after a mild correction earlier this week. BTC slips below a key support zone, and ETH is testing a key resistance zone. Meanwhile, XRP is drifting toward the psychologically important $1.00 support level.

Crypto hacks hit record high with 212 exploits in H1 2026
Crypto exploits hit a record high in H1 2026, with 212 incidents confirmed across several crypto projects, according to a Tuesday report from Blockaid. Average losses stood at $5.4 million, with a total of $1 billion in exploits in the first six months.
Bitcoin faces muted activity as BitMEX shutdown, FOMC uncertainty weigh on sentiment

Bitcoin eased below $64,000 on Tuesday as traders navigate exchange shutdowns and heightened uncertainty ahead of the Federal Reserve’s policy meeting, according to K33. In a report on Tuesday, K33 noted that BitMEX's decision to shut down marks the end of an important chapter for the crypto derivatives market.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game
Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.