The price of Avalanche (AVAX) was trading around $8.84 as selling pressure continued to weigh on prices. Bulls have struggled to push past the $10 mark, and there is a possibility of fresh declines that could drive AVAX towards $6.30. The overall sentiment in the cryptocurrency market is predominantly bearish.
Avalanche (AVAX) is currently encountering strong resistance just below the $9 level, where persistent bearish pressure has thwarted recent attempts at recovery. The altcoin’s bearish outlook is in line with the broader vulnerability of the cryptocurrency market, and based on technical indicators, there is a likelihood of further losses.
Avalanche price overview
Over the past month, AVAX has experienced a turbulent journey, with prices declining after reaching highs near $15 on January 14, 2026. The current decline, which has pushed the token 39% below its 30-day peak, has been influenced by significant macroeconomic challenges and profit-taking across the sector. Despite recent network milestones achieved by Avalanche C-Chain, including increased throughput, bears have largely dominated the market.
According to Martin Eckardt from Ava Labs, the chain could achieve over 4 million gas per second by the following week.
The drop to below $8.30 on February 5, 2026, intensified the selling pressure, making it difficult for bulls to drive prices higher. In the past 24 hours, the token has fluctuated between a low of $8.64 and a high of $8.96, with trading volume decreasing by 7% to 254 million. The performance of the past week reflects a similar trend of stagnant momentum, with only two green days out of seven and volatility below 1%. Bears are defending the $9 threshold amidst extreme fear readings on the Crypto Fear & Greed Index.
Avalanche price prediction: Technical analysis
From a technical perspective, AVAX has broken below a crucial weekly falling wedge pattern, with $9 serving as an immediate resistance zone. The weekly RSI at 30 indicates further short-term bearish bias, with a potential dip towards oversold conditions before a bounce accompanied by increased volume. Key support levels at $8.50-$8.25, supported by recent lows, will play a significant role in determining the direction of price movement. If these levels are breached, bearish targets could include lows of $7.50 and $6.30. On the upside, reclaiming $9.38 and testing the $13.90 resistance will be positive catalysts. A bullish crossover on the weekly MACD could signal further upside potential, with the next target being the dynamic resistance mark at the 50-week moving average ($19.42) and the 200-day moving average resistance at $23.69.
The lack of upward momentum in Avalanche mirrors Bitcoin’s struggle below $70,000. Market sentiment remains largely bearish, with analysts predicting a potential drop to $50,000 for BTC, which could have a cascading effect on altcoins.
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