Aave's V4 Expansion Boosts AVAX Price, But Sustained Uptrend Uncertain

The price of AVAX has risen by 4.5% in the last 24 hours, reaching $6.51 at press time.

This increase comes after Aave's decision to expand its V4 protocol to Avalanche, making it the first network selected for the expansion.

However, despite this recent surge, AVAX has traded lower since early August and remains within a consolidation zone of $5.8, $6.8 range that started in June 2023.

The Relative Strength Index (RSI) is close to 50, indicating neither buyers nor sellers have gained dominance.