AVAX Price Seeks Bullish Reversal Amid Analyst's $100 Target Hopes

Avalanche (AVAX) price is attempting to recover from its recent decline. According to Crypto Patel, an analyst, AVAX may be establishing a long-term base similar to the one that preceded its last significant run.

Currently, AVAX is trading at $6.71, up 6.24% over the last 24 hours, with a daily trading volume of $368.32 million and a market capitalization of $2.91 billion.

Crypto Patel believes that the $4.70-$2.75 range is a good demand zone where buying can resume. However, he notes that the overall outlook will remain bearish unless AVAX crosses above the crucial $8.50 mark.