AVAX Price Prediction: Bears Take Control as $5.87 Becomes Key Line in Sand

AVAX has been bleeding at $6.21, pinned below every key moving average with aggressive sell-side order flow dominating the tape.

The technical evidence puts the odds at 65% in favor of a continuation low, and the chart architecture is alarming.

Momentum has gone completely flat, with the MACD histogram sitting at zero, indicating that whatever residual bullish energy existed has been fully exhausted.

The RSI at 40.65 still has meaningful room to deteriorate before it hits levels that historically trigger aggressive dip buyers.

Buyers are hesitating for good reason, and the Stochastic oscillator is deep in oversold territory at 18/14, which typically indicates one more leg lower before any sustained recovery.