Avalanche (AVAX) Sinks Amid Bearish Momentum and Resistance

Avalanche (AVAX) has been trading near $6.44 after experiencing a decline of more than 2% this week, leaving rebound odds low and sellers firmly in control.

The current downtrend shows no signs of letting up, with upcoming institutional adoption efforts and stable staking activity potentially providing some support despite the bearish momentum persisting into the next week.

The price remains capped by strong resistance at $6.55, reinforced by Ichimoku signals indicating limited upside potential. The range-bound action between $6.06 and $6.89 is expected to continue next week, with an 80% probability of further decline.