The analysis focuses on AVAX/USDT, discussing both fundamental and technical aspects. The analyst points out that key level between $30 and $31 was lost on Thursday, with aggressive selling volume. The higher timeframes, such as the weekly and three-day charts, haven't lost this level yet, but are close. A reclaim above $30 is needed. The analyst also highlights the digital asset treasuries and related news as a bullish fundamental factor but notes that these developments haven't yet had a positive effect and the TVL is decreasing. The analyst is bearish on the short-term. The prediction is a drop down to a level between $26 and $25 (previous range value area high). The analysis will be invalidated if the price reaches $30.