Crypto
AVAX Price Squeeze: Breakout or Bull Trap at $7.00?
Avalanche (AVAX) saw an 8.41% price surge on July 26, reaching $6.84 from a low of $6.23.
The market is treating this as a possible head-fake, given the lack of derivative structure behind it and the stretched Stochastics at 89/71.
Price is now pinned at $6.77, just below the upper Bollinger Band at $6.86.
The underlying momentum hasn't caught up to the price move, and the MACD histogram printed a dead-flat zero.
A key indicator of short squeeze, open interest collapsed 14.15% on the same day price surged over eight percent.
The real break point is $7.00, which is both a round-number psychological barrier and the immediate resistance level.