Avalanche’s Price Action Hints at Short-Term Reversal Setup

The cryptocurrency market recently experienced a notable downturn, leading to declines across most major tokens. Bitcoin (BTC) dipped below $105,000 and Ethereum (ETH) fell to around $2,600 before rebounding. This broader correction also impacted Avalanche (AVAX), which saw a weekly decline of over 9%, lowering its monthly gains to just 5%. Despite the dip, technical analysis suggests a potential short-term bullish reversal for AVAX.