Crypto
AVAX Price Hangs in Balance as Smart Money Accumulates
AVAX is currently trading at $6.52, having bounced back from a session low of $6.21.
The price has reclaimed both the 7-day and 20-day SMAs, with aggressive buyers outgunning sellers by a margin of 1.27 on Binance.
However, momentum has hit a wall, with the MACD histogram flatlined at zero as the price bumps into the 50-day SMA at $6.56.
The setup is critical, with smart money sitting 64% long and derivatives positioning suggesting an accumulation bias.
Key levels exposed include the 50-day SMA at $6.56, immediate resistance at $6.64, and strong support at $6.09.