**AVAX Price Reversal: A New Trend on the Horizon?**

After nearly six months of decline, AVAX is showing signs of a trend reversal. On August 5, it hit a nine-month low at $17.29 but has since surged 45% to $25.25.

Several factors might be driving this uptick. The Avalanche token unlock schedule reveals a significant reduction in token unlock events after 2024, which many believe reduces sell pressure and supports long-term value.

Additionally, Grayscale Investments launched the "Grayscale Avalanche Trust," and Franklin Templeton expanded its blockchain fund to the Avalanche network, boosting investor sentiment.

While these developments aren't directly related to AVAX's fundamentals, the positive news could be influencing its price. Sustained spot buying volumes and increased margined long positions could push AVAX to the $28-$33 range.

Stay tuned for more updates!