$AVAX is currently sitting at the bottom of a long-term descending channel on the weekly chart.

This area ($8–$10) has acted as strong support.

The Bearish momentum is slowing down and this is a potential reversal zone

A bounce from here could spark a massive upside move

BULLISH SCENARIO:

If support holds, AVAX could target:

$20 - $40+

BEARISH SCENARIO:

Lose this level, and we could see $6–$7 next

Watch for:

Strong weekly close above $12–$14