Avalanche Price Rejection Sets Sights Back on Key Support Zone
Avalanche's (AVAX) price has been on a rollercoaster ride, and it just hit another key milestone. After breaking above $11.796, the September high, AVAX rejected near the $12 price area. This rejection is significant because it puts the focus back on the support zone of $10.754-$10.60.
The first sign of weakness came when the token's price returned to $10.169 for a retest before buyers resumed the advance. However, this time around, the buying pressure failed to push AVAX through the September high, leading to a rejection above it.
This development has put the short-term downside risk back on the table, with the next key level being the $10.169 retest if support fails. The chart shows that a sustained break below $10.60 would likely result in this scenario.