AVAX is around 6.42u now, and it fell another 4% today. These past few days, the overall market has been weak, and it has slid along with it.

It’s down 3.2% over the week. Over the month, it’s up slightly by 1.2%, basically a flat situation. After that earlier sharp drop, it failed to really bounce back and has been churning around the lows. The 24-hour high is 6.69 and the low is 6.36. This drop today has erased the small rebound that had been building up earlier.

After the previous single-day selloff, I mentioned watching whether it could stabilize and rebound. Now it looks like the rebound strength isn’t strong: it started falling again not long after rising. This suggests the bottom hasn’t truly been established, and the weak trend is continuing.

It’s down 95% from its all-time high of 145, and the price level itself is quite low—so long-term it isn’t expensive. But in the short term, this kind of repeated weakness needs extra caution.

At this level, if it can hold the 6.36 24-hour low, it will most likely keep grinding along the bottom while waiting for the market sentiment to improve. If it can’t hold here either, then we may have to look at even lower levels. If you already have a position, don’t rush to add. For those chasing a short, you can follow the trend here, but be aware that a technical rebound could happen at any time. #avax $AVAX