AVAX Price Plummets to Early 2021 Lows Amid Market Liquidation
- Market Crash Impact: AVAX's price plummeted 14% to a low of $6.26 on June 6 due to a market-wide liquidation wave, marking its lowest point since January 2021, which indicates extreme bearish sentiment among traders and potential for further declines.
- Liquidation Data Analysis: Over $1.86 billion in long positions were liquidated across crypto derivatives, with AVAX, as a high-beta token, absorbing sharper losses than Bitcoin, reflecting a significant decline in market risk appetite.
- Technical Support Levels: AVAX approached its critical support zone near $6.25, and failure to hold this level could accelerate declines towards the oversold region at $5.46, further undermining market confidence.
- Trader Sentiment Shift: With over 70% of positions being short, the market sentiment is heavily bearish on AVAX, and only a price recovery above $8.20 could alter this downward trend and restore a bullish market structure.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for AVAX
Technical Sentiment Analysis for Avalanche (AVAX). As of , Avalanche (AVAX) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AVAX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AVAX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Avalanche (AVAX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 3.435 | 4.83 | 6.295 | 7.689 | 9.155 | 10.549 | 12.015 |
| Fibonacci | 4.83 | 5.922 | 6.597 | 7.689 | 8.782 | 9.457 | 10.549 |
About AVAX
About the author








