On Sunday, February 1, 2026, Avalanche (AVAX) is trading at $9.81 after declining by 3.29% in the last 24 hours, based on CoinMarketCap data. The coin’s trading volume rose by 35.19% to $610.18 million as the token lost 15.3% over the last week.
Source: CoinMarketCap
AVAX Structure Holds Despite Decline
Crypto analyst Jonathan Carter highlighted that AVAX has recently retested the lower boundary of the descending triangle on the weekly timeframe. The support level has been intact since 2021 and has been guiding the trend structure. The support level has held strong even after the decline.
The structure has remained intact even in the short-term decline. The analyst also maintained the price targets of $30, $40, $55, $85, and $120. The weekly structure was the basis of the price targets. The support level was the reference point for the trend.
Source: X
Moreover, another analyst, Crypto Patel, mentioned the short-side setup of AVAX. The analyst noted the bearish structure and the 1D mitigation block. The analyst also highlighted the premium sell zone and the presence of a liquidity level at $8.52.
The analyst marked the level as “Strong SSL Magnet.” The plan was to enter the market at $11.50 and set the stop-loss level at $12.30. The targets were set at $10.60, $9.50, and $8.52.
Source: X
Also Read: Can Ethena (ENA) Recover From $0.13–$0.15 Support or Fall Further to $1.32?
AVAX Technical Outlook Shows Sustained Bearish Pressure
The signals for the Exponential Moving Averages (EMA) indicated continued downward pressure on the cryptocurrency. The EMA-20 was at $11.90, while the EMA-50 was at $12.95. The price remained below these levels, indicating strain on the short-term resistance levels.
For the long term, the signals for the EMA also indicated a bearish trend for the coin. The EMA-100 was at $14.86, while the EMA-200 was at $17.76. These levels had become major resistance levels for the cryptocurrency, which continued the downward trend for the cryptocurrency.
Source: TradingView
There was also an increase in volatility for the cryptocurrency, as indicated by the Bollinger Bands (BB). The bands had widened on the daily chart, with the upper band at $12.32, the middle band at $14.92, and the lower band at $9.72. The token had remained close to the lower band, which indicated a downward trend.
Open Interest and Volume Show Contrasting Trends
CoinGlass data shows that the volume had increased by 15.78% to $1.02 billion, while the Open Interest had fallen by 5.14% to $412.88 million. The OI-Weighted Funding Rate remained at 0.0012%.
Source: CoinGlass
The cryptocurrency had remained at a major support level, with traders assessing both its structural and liquidity levels. Buyers had relied on long-term levels, while traders on the short side relied on levels associated with supply.
Also Read: Avalanche (AVAX) 60% Plunge Despite $1.3B Institutional Uprise
