Michaël van de Poppe: AVAX Nears Correction Low

Michaël van de Poppe noted that AVAX is approaching the end of its correction phase, with limited downside momentum ahead and a low likely forming near current levels across crypto markets.

The trader highlighted that many corrections sit in their final stages, setting up a shift toward renewed upside momentum and a retest of the previous breakout area for AVAX.

Price action at $8.92 sits inside the Bollinger Bands with the lower support at $8.68 and upper resistance at $9.86, while the bearish EMA50 at $9.52 and EMA200 at $9.68 act as overhead resistance amid the MACD death cross at -0.18. With RSI at 32.2 in neutral territory, the structure points to a probable retracement toward the 50-EMA before any sustained move higher, aligning with accumulation interest between $8.30 and $8.80.