$AVAX ‌AVAX just made a sharp drop toward the 12.3 zone. The fall was fast, and momentum indicators are stretched, which usually means sellers are getting tired.

What I see on the chart

1H timeframe: Strong sell-off, RSI deep oversold → bounce setup.

Momentum (MACD & KDJ): Still bearish, but downside speed is slowing.

Volume: Spike on the drop = emotional selling, often near short-term support.

Possible path

Short term: Relief bounce toward 12.8 – 13.2 if support holds.

Mid term: Holding above 12.3 keeps recovery chances alive.

Risk: Clean break below 12.3 may invite more downside.

Just a personal market view, not financial advice. Trade carefully and manage risk.