The crypto token Avalanche (AVAX) is facing challenges in maintaining its trading price above $26 after a recent bearish breakdown. Its market value has suffered a 17.76% drop over the past week, causing its market cap to decrease to $11.14 billion. The AVAX price trend is showing a downward trajectory, with a 50% drop over the past 55 days, indicating strong bearish momentum. The bearish outlook is supported by the DMI and ADX indicators. AVAX recently broke below a support trendline, confirming the bearish trend. The next support levels are projected to be at $23.85 and $15.90, implying a potential downside risk of over 40%. However, if AVAX manages to reverse the trend and climb back above key levels, it could target $30 and $35 in the short term.



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