Avalanche AVAX Drops 1.23% As Bearish Momentum Persists

Coin WorldSunday, Jun 15, 2025 4:46 am ET
1min read

Avalanche (AVAX) is currently approaching a critical support zone as bearish momentum continues to dominate the market. The cryptocurrency has been in a downtrend for the past month, forming lower highs and lower lows, which is a clear indication of bearish pressure. As of the latest update,

is trading at $19, reflecting a 1.23% price drop over the past 24 hours.

The 1-day chart of AVAX shows a prevailing bearish pressure as bulls struggle to maintain the price above the $19 key resistance level. Technical indicators such as the MACD(12,26) and moving averages are signaling a "strong sell," suggesting that the price may continue to decline.

Renowned analyst Ali Martinez has noted that if the selling pressure persists, AVAX could find support at $16. This level is being closely watched by the market as a potential strong support zone where bulls might defend the price, potentially triggering a price reversal. Historically, AVAX has rebounded from this level, aiming for the $20-$22 range.

According to Coinglass data, the coin’s long-short ratio stands at 0.9577, indicating a neutral zone. The open interest has slightly dropped by 0.16%, suggesting that the $19 zone is a key battleground for both bulls and bears. With the bears currently in control, a high buying volume would be necessary to keep AVAX above the $19 zone. However, given the prevailing bearish sentiment, $16 remains the next potential support level for AVAX. Bulls are anticipating defending this support and attempting a price reversal. A failure to defend this support could see AVAX drop towards $15 or lower in the coming days.