Which literary term refers to a reversal in the hero's fortunes?

The literary term that refers to a reversal in the hero's fortunes is known as peripety. Peripety, derived from Greek, is a pivotal moment in a narrative where a significant change occurs, often resulting in a shift from good fortune to bad (or vice versa) for the protagonist. This moment is crucial as it can dramatically alter the course of the story and the character's journey, serving to heighten emotional stakes and deepen engagement with the narrative.

In contrast, the climax is the point of greatest tension in the story, often leading up to the resolution. The denouement follows the climax, resolving conflicts and tying up loose ends, instead of directly affecting the hero's fortunes. The anticlimax, typically a disappointing or unexpected turn of events, does not represent a significant change in the fortunes of the protagonist but rather subverts the expected climax. Thus, peripety is the precise term that captures the essence of a significant reversal in the hero's journey.