Atletico and Real both slip up
Cristiano Ronaldo's stoppage-time goal salvaged a 2-2 draw for Real Madrid as they followed Barcelona and Atletico Madrid in dropping points on a dramatic weekend in the Primera Division title race.
Valencia twice led at the Bernabeu before Ronaldo stabbed the ball home with a deft backheel two minutes into five added on.
Barcelona's 2-2 draw with Getafe on Saturday and Atletico Madrid's 2-0 defeat at Levante earlier on Sunday had left the door wide open for Real Madrid, but they struggled to push through it as the top three all dropped points on the same weekend for the first time this season.
Jeremy Mathieu put Valencia ahead moments before half-time, and, just six minutes after Sergio Ramos' 59th-minute equaliser, Dani Parejo put Los Che back in front.
After Ronaldo levelled, both he and substitute Alvaro Morata had golden chances for a winner but missed the target.
Defeat for Carlo Ancelotti's side would have left the title in Barcelona's hands, but the draw leaves it too close to call.
Atletico perhaps remain the favourites - something which seemed unlikely when the final whistle blew on their loss at Levante, barely 24 hours after Barca had been held by Getafe.
An early own goal from Filipe Luis put Levante ahead before David Barral added a decisive second midway through the second half.
However, Atletico know that, should they win their remaining two games, they will be champions for the first time since 1996.
Of course, their final game is away to Barcelona, and conspiracy theorists may well have noted that should the three teams win all their games prior to the final day, there exists a scenario where a Barca win over Atletico could see them hand the title to arch rivals Real Madrid.
Elsewhere in La Liga on Sunday, Ramon Azeez's late header claimed three much-needed points as 10-man Almeria moved out of the relegation zone following a 3-2 victory over Real Betis.
Oscar Diaz and Aleix Vidal were also on target in a topsy-turvy second half at Juegos Mediterraneos, in which Suso was sent off 10 minutes after the break as Francisco Rodriguez's side moved up to 16th with two matches remaining.
Already relegated Betis scored a second-half equaliser through Braian Rodriguez and then Salva Sevilla handed them a temporary lead before the home side struck back.
Europa League finalists Sevilla were held to a goalless draw by Villarreal.