AVAX Price Falters, Smart Money Holds Long Bias Amid Range-Bound Trading

AVAX is trading at $7.23, its daily pivot point, with momentum flatlined and smart money favoring long positions at a ratio of 71%.

The token's price has been range-bound between $7.01 and $7.47 for the session, with a tight intraday range.

This is not surprising given the broader L1 competitive landscape, which has seen capital rotation favoring Bitcoin and meme tokens over foundational infrastructure plays like AVAX.

The medium-term structure of AVAX hasn't collapsed, but it's struggling to break through resistance at $8.11, its 200-day SMA.