Key takeaways
- AVAX is trading above $17 per coin after reaching $15.90 on Sunday.
- Despite its recovery, AVAX could revisit the $15 low before resuming an upward move.
AVAX rises about 2% as broader market recovers
The cryptocurrency market has started the week on a positive note following a bearish weekend. Bitcoin, ETH, AVAX and other major digital assets have bounced off yesterday’s lows and look poised for further gains.
AVAX, the native token of the Avalanche blockchain, has gained roughly 2.5% over the past 24 hours, making it one of the better performers among the top 20 cryptocurrencies by market capitalization.
At the time of writing, Avalanche is trading around $17.11 and could move toward $20 if momentum continues. However, the market may re-test the $15 low as the broader downtrend remains intact. AVAX’s near-term performance will likely depend on overall crypto market sentiment and developments in the ongoing Israel–Iran tensions.
AVAX could test $15 before moving higher
The 4-hour chart for AVAX/USDT indicates the pair remains in a bearish structure despite the recent bounce. A retest of the $15 low appears possible before a sustainable rally takes hold.
The 45 reading on the relative strength index (RSI) suggests bears still carry the edge, though the pair could drift toward neutral territory. The MACD also sits in negative territory, reflecting prevailing bearish sentiment.
If bullish momentum strengthens, AVAX may target the 4-hour internal liquidity level at $17.58 in the coming hours. A sustained upside move could push AVAX toward $20, a level not seen since June 16.
Yet technical indicators remain tilted to the downside, suggesting further downside is still possible. AVAX could test the $14.61 support level if selling pressure on higher timeframes persists. A failure to hold $14.61 would open the path toward $12, a price not traded since November 2023.