AVAX Plummets Below $11: Can It Recover to $13 Amid ETF Launch?

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<a href="https://jpygbp.com/avax-usd/">AVAX</a> Retests $11 Support, Can It Bounce Back to $13?

Key Highlights

  • AVAX has dropped below $12 and is now trading around $11.07 amid strong selling pressure.
  • Bitcoin’s drop and weak demand are adding more downside risk for AVAX.
  • VanEck launched the first U.S.-listed AVAX ETF, but it hasn’t caused a major price rally yet.

Avalanche (AVAX) is experiencing a price decrease after falling below the $12 support level. It’s currently trading around $11.07, which represents an 8% drop from its high of $12.10 today.

Trading volume decreased by 6.18% to around $295 million, and the total market value is currently $4.8 billion.

AVAX is currently trending downwards, with sellers dominating the market. The price briefly rose to $12.22 after initially testing the current support level, but has since fallen back down.

The price of most cryptocurrencies besides Bitcoin is also falling, as the overall market decreased by 2.04% to $2.94 trillion in the last day. This was largely driven by a 2.34% drop in Bitcoin’s price, which dipped below $90,000. AVAX, like many other altcoins, tends to follow Bitcoin’s price movements, meaning it could fall further if Bitcoin continues to decline before potentially finding a level where it stabilizes.

As I’ve been tracking, the price of Avalanche (AVAX) measured against Bitcoin (AVAX/BTC) is currently moving within a downward channel. This is concerning because if the current support level fails, we could see AVAX fall to around 0.000110 BTC. Historically, when Avalanche doesn’t perform better than Bitcoin, it tends to experience sharper declines during broader market downturns, so this is a key area to watch.

$AVAXBTC looks weak here!

Could drop to 0.000110BTC

— Jesse Peralta (@TheJessePeralta) January 29, 2026

Traders stay cautious despite ETF spotlight

Trading in derivatives markets is showing similar trends. Data from Coinglass indicates that trading volume for AVAX futures has decreased by 8.33% to $574 million, and the amount of open interest has fallen by 3.27% to around $463 million. This suggests traders are becoming more hesitant and are opening fewer new positions.

In the last 24 hours, over $881,000 worth of positions were closed, resulting in losses for traders. The majority of these liquidations – $838,000 – came from traders who had predicted the price would increase, while $42,740 came from those betting the price would fall.

Avalanche (AVAX) is attracting more interest from traditional investors after VanEck launched the first U.S. exchange-traded fund (ETF) for the token on January 26th. This ETF, traded on Nasdaq as VAVX, lets investors gain exposure to AVAX without actually owning the cryptocurrency itself. VanEck is also temporarily waiving fees on the first $500 million invested, but this hasn’t yet led to a significant increase in AVAX’s price.

AVAX heads straight for $10 support level

AVAX has fallen below a key support level of $11 on the daily chart and is now approaching a longer-term support around $10.94. Despite a brief increase in price since December 2025, the price has moved below the $12 support level, indicating a downward trend.

If today’s price action shows a quick rise and then a fall, it could lead to a price increase, potentially breaking above $13 or moving towards $14.80–$15. But, if the price remains stable for the day, it would likely need to fall to around $10.94 before gaining enough strength for a potential rally.

In my analysis, the Relative Strength Index (RSI) is currently reading 39, and the moving average is at 32. This suggests that selling pressure still dominates the market. However, if the RSI were to fall into oversold territory, we could see a potential shift in momentum.

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2026-01-30 00:14