Following a broader crypto market downturn of over 3 percent in the past 24 hours, triggered by Bitcoin’s slide below $106k on Thursday, the price of Avalanche (AVAX) experienced a similar decline. Coingecko data shows AVAX is trading around $22.44 after a drop of nearly 4 percent over the last 24 hours. This dip follows a recent surge in value as the network’s DeFi-focused ecosystem continues to attract both institutional investors and wider adoption. The Avalanche network boasts over $1.5 billion in TVL, fueled by stablecoin market cap exceeding $2 billion, and has seen a substantial rise in daily active users surpassing 46,000. This momentum is further bolstered by recent fund manager interest in launching spot AVAX ETFs in the United States. The weekly outlook presents AVAX with positive signals as it shows recovery from the 2022 crypto bear market. In the short-term, a symmetrical triangle pattern has emerged on the four-hour timeframe, while robust support above $22.8 is evident based on recent accumulation by 362,000 wallets holding over 21.65 million AVAX coins. A sustained close beyond this level will likely spark a rally toward the target range of $35-$55.