Avalanche (AVAX) is exhibiting a bullish pattern on the 4-hour chart, characterized by a Power of 3 (PO3) formation. The cryptocurrency has moved through an accumulation phase between $12.64 and $14.80, followed by a manipulation phase dipping below $12.64. Currently, AVAX is in an expansion phase, rebounding above critical levels. A close above the 200-hour moving average, approximately $13.20, could solidify this bullish trend, setting a potential target of $18.29. However, a decline below $12.64 might hinder the upward momentum.