AVAX Price Faces Shakeout Before Next Leg Up
Avalanche (AVAX) has flashed overextension signals at $10.68, with an RSI of 73.89 and a dead flat MACD momentum.
The token came into Monday's session nursing a 3.13% overnight loss after reaching $11.54 intraday, indicating a probable pullback to the $10.29-$9.90 zone before any credible assault on $11.30+
This setup is not bearish on AVAX's macro trajectory, as Layer-1 space has regained traction and its correlation with broader crypto risk appetite remains dominant.
The chart is screaming caution, however, as momentum indicators are signaling exhaustion and near-textbook overextension signals have emerged.
Derivatives data shows a 7.20% surge in open interest, meaning participants are not stepping away, while smart money is running a 71.6% long bias.