AVAX slipped 1.82% to trade at $6.14 in the latest session, with analysts zeroing in on the $6.45 resistance level as the key to any short-term recovery.
$6.45: The Short-Term Deciding Line
Analyst Trader Symba noted that for AVAX to regain upward momentum, the price must break above the $6.45 resistance. This level has been crossed briefly before but failed to hold, triggering renewed selling. Analysts stressed that bears remain active at $6.45, capping any bounce. According to analysts, a stronger short-term rebound requires reclaiming and holding above $6.45 as support.
If AVAX pushes through $6.45 and defends that zone, the $6.60 - $6.65 range becomes the next target. However, another rejection at resistance could pull the price back to $6.10 or even test $6.00 support.
$6.65: The Confirmation Level for a Stronger Recovery
Some market observers are now watching the $6.65 threshold. Despite efforts to build a base, AVAX still trades below the primary resistance zone. Analysts say sustained short-term gains likely require not only a break above $6.45 but also confirmation above $6.65. If AVAX can hold above $6.65, the short-term outlook improves, with targets in the $6.90 - $7.00 region. Failing to clear this level could leave AVAX range-bound between $6.00 support and the $6.45 - $6.65 resistance band, signaling a neutral-to-weak bias until a decisive breakout emerges.
Key Support Zones and On-Chain Activity
For short-term traders, the $6.00 - $6.15 range stands out as a core support area. As long as this zone holds, AVAX can attempt another move toward $6.45. If that upper level falls, the $6.80 - $7.00 range becomes the next major upside target. On the downside, initial critical support lies at $6.05 - $6.00. A break below could open the door to further losses toward $5.85 and $5.70. If selling accelerates, the wider support at $5.50 may be tested.
On-chain data shows a large wallet withdrew 238,651 AVAX (approximately $1.5 million) from Bybit. While large withdrawals by major holders can sometimes indicate reduced selling pressure, analysts note that this signal alone does not change the broader technical picture.