Avalanche has undergone a turbulent ride since its record high of $153 on November 21, 2021. During the subsequent bear cycle, the token’s value experienced a significant decline, with the most pronounced drop in April 2022 when it tumbled from $102 to just $13, marking an astonishing 86% reduction in value.
Focusing on the 4-hour chart of AVAX, the downtrend that began on February 3, when the price reached its yearly high of $22.70, has unmistakably come to an end. This is apparent through the completion of a five-wave WXYXZ corrective pattern.
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