AVAX Technical Analysis: 3 MAY 2025
Key support levels of AVAX are coming under test. Source: TradingView
General View
AVAX has lately completed a rounded bottom structure and broken through the key resistance at the $20.30–$21.00 zone. This move confirmed a bullish breakout, however, the price is now pulling back for a critical retest. The coming hours are crucial, if bulls can hold this breakout support, the structure remains bullish, and buyers may attempt another push higher. A failure to hold this level, however, could shift the narrative toward short-term weakness.
On The Upside
AVAX is currently feeling heavy with its price action. Bulls will be under immense test as AVAX tests the breakout zone. This region must be held for price to post any intra-day recoveries towards $21.25, followed by $21.80 levels. Additionally, extensive holding of the support may lead to short-covering.
On The Downside
The breakout support zone around $21.00 to $20.70 is the dividing line between bullish AVAX and a potential bearish shift. A clean break back below this region would open lower support retests before any bullish resurgence. If this supportive region breaks, the price is expected to slide into $20.00 to $19.80 levels.
AVAX price chart for 3rd May 2025. Source: TradingView
