Avalanche (AVAX) price looks to recover following its significant decline. An analyst expects AVAX to be establishing a long-term base, akin to the one that preceded its last strong run. The future of AVAX is unclear, but eyes will be on whether AVAX can establish itself above support.
At the time of writing, AVAX is trading at $6.71, up 6.24% over the last 24 hours. The token has recorded a daily trading volume of $368.32 million, while its market capitalization stands at $2.91 billion, showing renewed market activity after weeks of selling pressure.
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AVAX Price Eyes Repeat of Historic Rally
A crypto analyst, Crypto Patel, stated on June 29, 2026, his view on the long-term technical analysis, claiming that the AVAX price is likely to follow the same market structure that drove its massive growth from $1 to $147 between 2020 and 2021.
Crypto Patel indicates that the AVAX price has undergone an almost 96% correction from its highest level ever and is now trading in the high-risk/high-reward accumulation area, according to him.
The Patel believes the $4.70-$2.75 range is a good demand zone from which buying can resume. On the other hand, he noted that the overall outlook will still be bearish unless AVAX crosses above the crucial $8.50 mark.
He noted that the previous area of support at $8.50 is now a level of resistance due to the breakdown that has occurred. He also believes that until that level is regained, caution will persist despite any short rallies.
Technical Indicators Suggest Buying Interest Is Returning
AVAX is currently trading at $6.71, slightly higher than the middle Bollinger Band at $6.49. The upper Bollinger Band at $7.00 marks the first resistance point. Breaking through this point could trigger further buying interest; however, failing to support the current price levels might drive the coin down towards the lower Bollinger Band at $5.97.
The MACD is indicating good momentum, as the MACD line has crossed the signal line, with a MACD line reading of -0.33985 and a signal line value of -0.46382. The histogram has gone positive to a level of 0.12397, indicating that buyers are getting stronger.
What Comes Next for AVAX Price?
The coming trading sessions may prove to be crucial in deciding where AVAX is heading next.
The first price target that investors will be eyeing is $8.50, which now stands as the major resistance level following the breakdown. A bounce off this level will add more credence to a possible reversal move.
Crypto Patel still considers the $4.70-$2.75 area to be the primary zone for accumulation should there be an increase in selling pressure. According to his forecast, a closing below $2.70 on a monthly timeframe will make the long position invalid.
Patel believes that the future targets for the AVAX price, in the event that the cryptocurrency is able to gain momentum again, could reach $10, $30, $70, and even $100. Even though such price targets are hypothetical, this is important since they underline the significance of the current price range.
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