$AVAX Approaching Key Capitulation Floor Amid Severe Downtrend

​The price of Avalanche ($AVAX) is currently trading at $9.215, experiencing a sharp intraday drop of -5.83%. On the 1-hour chart, the asset is locked in a steep downward cascade, consistently printing lower highs and lower lows as sell pressure dominates the near-term structure.

​Long $AVAX
​Entry Zone: $8.950 – $9.250
​Stop Loss (SL): $8.600

​Target 1 (TP1): $9.650
​Target 2 (TP2): $9.950
​Target 3 (TP3): $10.150

​Market Analysis
​$AVAX has faced aggressive distribution over the current session, breaking through multiple intermediate support shelves after dropping away from its local structure peak near $10.145. This steady cascade has pinned the price action directly against its immediate 24-hour low of $9.185. Because the selling momentum has become highly overextended on the hourly frame, the asset is entering a prime territory for a technical relief rally or a short-covering bounce.

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