Avalanche has recently experienced a renewed rise, which has ended in the last few hours. We have to admit that the price has approached our magenta target zone (coordinates: $9.03 - $5.62), thus fulfilling the (minimum) technical requirement for this move; however, until the price convinces us of a final backed low of wave (2) in yellow with further clear rallies, we still have to assume that it will go a bit deeper into our zone. Ideally, we see the price approaching the lower violet trendline here, but of course, it can use the entire target zone to complete the reversal. In turn, traders can use the zone to enter long positions.
