AVAX traded near $6.71 after Bitwise Asset Management removed the token from its flagship Bitwise 10 Crypto Index ETF and added HYPE in its place. The change put fresh pressure on a market that was already weak, since inclusion in a major crypto index can help preserve institutional visibility.
Avalanche remains a blockchain built for decentralized applications and custom blockchain networks, and AVAX is still known for high throughput and fast finality. That has not stopped near-term pressure. The index reshuffle arrived while the token was already struggling, leaving traders more cautious around current price levels.
$6.90 to $7.00 remains the key recovery band
According to the source material, AVAX has been moving in a narrow range between $6.68 and $6.79. Each rebound has faced resistance below the $6.90 to $7.00 area. As long as buyers fail to push price back above $6.90, the bearish structure stays in place. A move through $7.00 would be needed to ease selling pressure.
On the downside, short-term support sits around $6.65 to $6.60, though that zone is described as vulnerable. If it breaks, the next area in focus is $6.50 to $6.30. The article also points to sideways trading and weak volume, a sign that sellers still hold control while buyers have struggled to sustain rebounds.
Bearish chart patterns are building on the 8-hour chart
Several technical traders cited in the report said AVAX is forming bearish patterns on the 8-hour chart. Crypto Nuclear said a break below $6.00 could trigger another leg down, with downside targets reaching $5.65 if support fails. That view matches the broader picture of fading momentum.
Crypto With Gopal also flagged a possible head-and-shoulders pattern. In that setup, the right shoulder is forming near $6.80 to $6.90. If price falls through the neckline, the risk of another downward move increases. The shared message from these chart readings is simple: AVAX needs to reclaim $7.00 to reduce immediate pressure.
Traders are watching what happens below $6.55
In the near term, buyers are trying to build a base around $6.70 to $6.65. Lower down, the $6.50 to $6.30 zone is being watched as a possible area for new demand. The source says any sustained move below $6.55 would likely bring heavier selling and drag AVAX into deeper support territory.
A bounce above $6.85 could open the door to a short recovery. For now, though, attention remains fixed on whether the token can hold the $6.50 area after the Bitwise exclusion added another bearish signal to an already fragile chart.