Avalanche Price at a Crossroads: Short-Term Breakout Awaits Weekly Confirmation

Avalanche's price has recovered slightly after falling to $6.10, but its long-term trend remains bearish.

The short-term outlook is more optimistic, with buyers regaining momentum and pushing the price above a descending channel on the 4-hour chart.

However, the weekly chart still shows a downtrend, with indicators such as the RSI and Chaikin Money Flow suggesting weak long-term momentum and limited institutional demand.

To confirm a trend reversal, Avalanche must break out of its weekly descending channel and overcome the $10.20 resistance level.