Avalanche (AVAX) Price Breaks Support at $16: Analysis Suggests Bearish Trend

The Avalanche (AVAX) price has broken a critical support level, prompting a deeper analysis of its potential trajectory. Trading near the $16 mark, AVAX faces increased pressure as its historical support weakens. 2023’s market momentum and key indicators paint a picture of a weakening crypto landscape that may indicate further declines. A leading analyst on X highlights this zone as a highly sought-after area among smart money investors, but the current situation suggests a potential for further sell-off.