Avalanche Eyes $8.65 as Price Continues to Rise

Avalanche's [$AVAX] price has been on a steady rise since September 2, when it began a bullish reaction after testing the $7 former resistance zone at the end of August.

The spot CVD for AVAX crypto has been rising slowly since September 4, and Open Interest has climbed from $145.6 million to $164.9 million, according to Coinalyze data.

Additionally, Aave V4 deposits on Avalanche reached an all-time high of $19.1 million on the same day, which may have contributed to the price trend.

However, the Relative Strength Index (RSI) on the daily timeframe is at 66.6, indicating strong upward momentum, but the volume trends show buyer and seller pressure are relatively evenly matched.