AVAX Price at Make-or-Break Point as Bulls Stall
AVAX is at a critical inflection point where momentum has stalled and smart money is heavily long.
The token's price is sitting above its 7-, 20-, and 50-day moving averages, which is a bullish alignment on the short-term timeframe. However, the recent recovery from the mid-$6 range has exhausted itself, as evidenced by the dead zero MACD histogram and overbought Stochastic oscillator at 85.
The Bollinger Band picture also suggests tension: AVAX is knocking on the door of the upper band at $7.98, but typically doesn't sprint through it without testing its limits first.
A possible pullback to test the $7.33, $7.48 support zone is more likely than a clean breakout above the strong resistance at $7.89, which would open the path to the SMA 200 at $8.06 and potentially even $8.50, $9.00 within 30 days.