AVAX Price Eyes $110 After Reclaiming Multi-Year Trendline
Avalanche's AVAX token has reclaimed its multi-year trendline after a brief breakdown, strengthening its bullish structure. According to Kamran Asghar, crypto analyst, this move indicates that sellers failed to sustain downside pressure and could be a false signal for the bears.
AVAX had been trading below major resistance levels for an extended period but has now broken decisively above resistance and reclaimed the 200 EMA positioned around $8.65. The token's price has surged toward a local high of $11.78, marking a substantial recovery from its previous consolidation range.
However, despite the bullish momentum, derivatives activity signals caution. Trading volume and open interest have declined, indicating lower participation in leveraged trades and less upside momentum available at this stage.