Key Price Levels to Monitor as AVAX Consolidates Around $35

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The AVAX token price has been relatively stable since the onset of 2025, reflecting the overall mood of the altcoin market this year. After peaking at $55 in early December 2024, the Avalanche token has been on a slow downward trend, reaching a low of $32.2 on January 29.

In a recent analysis on the X platform, renowned crypto analyst Ali Martinez highlighted pivotal on-chain levels that could determine the future path of AVAX’s price. His analysis centered on the average purchase price of multiple Avalanche investors.

In this cost-basis analysis, a level’s ability to act as a support or resistance is determined by the total amount of tokens last bought by investors at that price. As seen in the chart below, the size of the dot corresponds to, and is directly proportional to, the number of AVAX tokens bought within each price range.

Data from IntoTheBlock shows that around 302,100 addresses bought roughly 14.26 million AVAX tokens between $34.01 and $35.15. As pointed out by Martinez, this has established a vital support cushion within this price zone.

The $34.5 region has the potential to serve as a vital support level due to the number of investors who bought in at this price. The logic being that when the AVAX price drops to $34.5, investors who bought at this level are likely to purchase more tokens to protect their investment, leading to a swift price recovery.

In addition, IntoTheBlock data indicates that the $39.49 – $40.54 price range is densely populated with investors. According to the data, over 233,000 addresses purchased more than 12.33 million AVAX within this price range.

Martinez suggests that this $39.49 – $40.54 price zone is a significant resistance area as investors tend to act when an asset returns to their purchase price. In this case, investors who were previously at a loss might be eager to sell their assets as soon as they break even, potentially exerting downward pressure on the AVAX price.

The price behavior of AVAX around these two zones could have a significant impact on its performance in the coming weeks. Therefore, investors should closely monitor the altcoin as it nears these support and resistance zones.

At the time of writing, AVAX is trading at roughly $34.8, a marginal 1% increase over the past 24 hours. The token’s performance on broader timeframes is even more modest. CoinGecko data shows that Avalanche is down nearly 3% over the past week.

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