AVAX Eyes $8.65 as Momentum Continues

Avalanche's price has been on an upward trajectory since September 2, following a brief retest of its former resistance zone at $7.

The spot CVD for AVAX has been rising steadily since September 4, with the Open Interest climbing from $145.6 million to $164.9 million, according to Coinalyze data.

The Funding Rates have remained positive, indicating that market participants remain bullishly positioned.

However, some analysts are cautious about the sustainability of this momentum, pointing out that the RSI on the daily timeframe is at 66.6, which may indicate strong upward pressure.

The OBV has been oscillating around the July highs without a clear breakout, while the volume trends suggest buyer and seller pressure is relatively evenly matched.