AVAX Price Stalls at $7.93-$8.06 Resistance Cluster

AVAX is trading at $7.76 and facing significant resistance from three major technical levels, including the Bollinger upper band at $7.93, immediate resistance at $7.98, and the 200-day SMA at $8.06.

The token has reclaimed its short-term moving averages but remains below the 200-day SMA, a crucial level that could determine its next move.

According to technical indicators, momentum has stalled, with the MACD histogram zeroed out and the RSI reading neutral-to-bullish, indicating limited room for upside.

Despite institutional traders holding a long position of 76.6%, aggressive sell volume is entering the market, suggesting distribution rather than accumulation.