Avalanche (AVAX) is exhibiting a bullish megaphone pattern on its daily chart, signaling potential upward momentum as it hits a key pivot point on the Murrey Math Lines tool. Technical indicators, including the RSI and Stochastic Oscillator, suggest AVAX is in an oversold condition, hinting at a possible rebound. The network's burn rate has surged to a 12-month high, with $1.1 million worth of AVAX tokens burned in the past month. Analysts point to increased real-world asset tokenization and adoption as a treasury asset as factors that could further drive AVAX's bullish outlook.