AVAX Bulls vs. Bears: The SMA 200 Breakout Showdown
AVAX is trading at $7.91 after a 4.83% daily surge, but it's facing resistance from its 200-day moving average at $7.98 and a cluster of immediate resistance around $8.09.
The SMA 200 is considered an institutional benchmark, separating assets that are structurally recovering from those that are still technically broken on the macro timeframe.
Despite the short-term trend picture being constructive, with price above all near-term averages, the momentum indicators are flatlining at a crucial moment, suggesting buyers used the surge to absorb overhead supply rather than break through it.
The open interest on Binance Futures has dropped 8.17% in 24 hours, indicating shorts may be being squeezed, and smart money is heavily long with 74.3% of sophisticated accounts sitting long.