Avalanche (AVAX) faces immediate downside risk after breaking a key wedge pattern, with analysts eyeing $9 amidst intensifying selling pressure.
Avalanche Hits a Rough Patch: The Rising Wedge Breakdown
Looks like Avalanche (AVAX) isn't starting 2026 with a bang, at least not the good kind. The digital asset, after hitting $13.687, has been showing signs of real weakness. On January 1, 2026, it not only rejected a previous support level but also decisively broke down from a classic rising wedge pattern. For those in the know, that's a signal pointing straight to a short-term bearish setup, with AVAX struggling near some pretty stubborn resistance zones.
This isn't just a minor blip; it suggests a continuation of a downtrend that’s got traders on edge. Price compression within those upward-sloping trendlines indicates that buyers are losing their oomph, and multiple rejections around the $13.47 mark are just screaming
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