Avalanche's Four-Day Rally Faces Crucial Test at $9 Resistance

Avalanche's price has been on the rise for four consecutive days, breaking above a multi-week pennant pattern and reaching closer to the $10 psychological level.

AVAX traded above its key Exponential Moving Averages, adding support to the bullish structure. The token also broke above its former pennant resistance near $7.15 after several weeks of consolidation.

Avalanche's network activity has been increasing, with a new monthly high in Network DEX Volume at $141.61 million over 24 hours. However, this increase did not independently confirm greater demand for AVAX, and Average Order Size showed large orders clustered near the current price, indicating whale activity.

The Long/Short Ratio on derivatives traders shows that approximately 70% of tracked trader positioning is in favor of long positions, but this also increases the exposure to a potential Long Squeeze if the token rejects at $9.