Avalanche (AVAX) fell 1.99% in the past 24 hours, holding the critical $9–$11 support zone as of February 2, 2026, according to CoinMarketCap. The token’s weekly decline now stands at 14.36%, reflecting cautious trading amid broader crypto market recovery.

Trading volume reached $486.33 million, down 28.88% from the previous day, while market capitalization dropped to $4.3 billion, a 1.96% decrease. These movements indicate that short-term sellers are losing momentum, with long-term buyers absorbing selling pressure.

Also Read: Avalanche (AVAX) Slides Toward $8.52 Liquidity Zone Amid Weak Structure

Key Support Holds, Upside Targets Form

On the weekly chart, AVAX continues to respect the lower boundary of a long-term descending triangle formed since 2021. Price consistently holds above the $9–$11 zone, confirming structural strength and controlled volatility. Repeated defenses of this level suggest ongoing accumulation rather than a breakdown.

Volume contraction as AVAX returns to this support level indicates seller exhaustion. According to a crypto analyst, Jonathan Carter, a descending triangle during an accumulation phase tends to move up after breaking through resistance.

According to the analyst, making sure to stay above $9 on a weekly close will keep the long-term structure intact, with targets at $30, $40, $55, $85, and $120, which correspond to resistance levels.

Technical Indicators Show Easing Selling Pressure

The weekly RSI is at 32.38, which is just above the oversold level of 30. The moving average is at 35.93. This means that the selling pressure is not changing much, but it is steady, as indicated by the chart on TradingView.

The MACD indicator remains bearish, and the MACD line remains at -3.305, the signal line at -2.903, and the histogram at -0.402. The decreasing histogram could be a sign that bearish momentum is weakening. Some traders may interpret this as an initial sign of consolidation.

Why This Matters

Traders should monitor the $9 to $11 support level for AVAX, as a strong breakout could lead the price to rally towards the $120 level.

As the selling pressure decreases for the near term, it could be a buying opportunity for investors looking to take advantage of the price stabilization.

Also Read: Avalanche (AVAX) 60% Plunge Despite $1.3B Institutional Uprise