- AVAX is consolidating at $23.40, holding above its ascending trendline established since June.
- A bounce could retest $26–$28 resistance, where previous rejections have occurred.
- A drop to below the $22.45 support threatens to trigger a downward trend towards the $20.30 weekly important point.
AVAX is changing hands at the price of $23.40, on a 2.6% rise over the last 24 hours . The cryptocurrency has maintained above its rising trendline since June. The price action shows that it is consolidating near this level, making AVAX face a critical decision point. Traders are closely monitoring whether the asset will maintain this support or slide toward lower levels.
The day’s chart shows AVAX remaining stable above the support point of $22.45. Prices ranged between $23.16 and $23.61 over the past 24 hours exhibiting narrow consolidation. This stability is due to a couple of retests of the uptrend line which has remained a strong support since mid June. Holding above this structure keeps momentum intact, although pressure from sellers remains visible.
AVAX at a Crossroads: Testing Support Before Eyeing $23.54 Resistance
In the event the support level holds true, then AVAX may run into its immediate resistance point at the level of $23.54 . A significant upward challenge above that can set the stage towards the wider resistance area between $26 and $28. Notably, this zone has previously capped upward momentum, creating several rejections throughout July and early August. Price reaction within this range will determine if short-term bullish attempts extend further.
However, failure to maintain the trendline support could shift momentum. A clear breakdown below $22.45 may expose the next critical level at $20.30, marked as a weekly key zone. This area served as an earlier structural point and could attract new market interest if tested. With AVAX currently trading in a narrowing range, the next movement will decide whether the structure continues upward or corrects toward deeper support.
AVAX remains at a decisive stage, with its trendline acting as the immediate reference point for traders. Short-term market behavior around this level will guide whether the asset revisits resistance or reverts lower toward the weekly key area.
