AVAX Price Rally Falters at $11.16 Resistance

AVAX has seen a significant surge in price, gaining 4.12% to $11.16. While this may seem like a strong rally, technical indicators suggest that momentum is stalling. The RSI has climbed to 72, placing AVAX in overbought territory.

The MACD momentum has converged with its signal line, indicating a flatline in bullish momentum. This could be a sign that buyers are exhausted and sellers are taking control.

Price action is also showing signs of compression against the $11.40-$11.64 resistance wall. A break above this level would require sustained volume to validate a continuation.

Smart money, or top traders, are positioned 74.1% long against 25.9% short on Binance futures, indicating a convincingly bullish book from these accounts.