Avalanche's Downtrend Persists Despite Price Recovery
The price of Avalanche (AVAX) has been in decline for most of the past year, dropping to as low as $5.90 on June 20, 2026, before recovering slightly to $6.29.
Despite this recovery, analysts are still unsure if AVAX is a good buy at current prices, with some arguing that the discount to its twelve-month high of $35.23 is already factored into the price.
The chart shows that the downtrend is interrupted rather than broken, with the price having produced a higher low but not yet reclaiming the 50-day exponential moving average (EMA) at $6.71 or the 200-day EMA at $9.62.
According to analysts, two consecutive weekly closes above $6.71 would mark a turn in the trend, while a weekly close below $5.90 would confirm that the downtrend is resuming.
The Relative Strength Index (RSI) reading of 47.0 indicates that Avalanche is neither overbought nor oversold, suggesting that capitulation may be over but providing no edge for buyers or sellers.