Will AVAX's current market trend still be playable? Recently, many people have been discussing this question.

First, let's talk about the news situation. On January 13th, the Avalanche network officially announced the completion of the 1.2 version upgrade. But to be honest, this upgrade has little to no substantial impact on the market. Looking at the price side, since the start of the bear market, it hasn't had much breathing room, with a total decline of about 80%, and opportunities for a rebound are scarce.

The root of the problem actually lies here—tokens like layer-two solutions are essentially designed to address Ethereum's performance bottlenecks. However, as Ethereum gradually upgrades and iterates, the necessity of these protocols is continuously diminishing, and market attention and investment appeal have also significantly declined. In the long run, the valuation logic of these projects is gradually being eroded.

From a technical perspective, the situation isn't very optimistic either. On the daily chart, the price has already broken below the middle band of the Bollinger Bands and is currently in a state of oscillating correction. More concerning is that the MACD indicator shows a clear weakness, and trading volume continues to shrink. This indicates that bullish momentum is clearly lacking, and currently, the market is dominated by bearish forces. In the short term, the price may continue to decline, with the next support level depending on whether the lower Bollinger Band can hold.

Overall, it is unlikely to see a reversal signal for this asset in the short term.