AVAX Price Alert: Bears Take Control as $6.04 Support Looms

Avalanche (AVAX) is facing a brutal technical breakdown after a 5.6% flush in just 24 hours, leaving the asset in a precarious position. The price is currently trading below every major moving average, from the 7-day to the 200-day, signaling that bearish momentum has completely overwhelmed the bulls.
With MACD momentum flatlining and funding rates suggesting a crowded short market, the asset is at a crossroads. Investors are watching closely to see if a sudden short squeeze will ignite a recovery, or if the price will succumb to further downside toward the critical $6.04 support level.
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