AVAX is testing the lower boundary of a multi-year descending triangle around $8.60, a key support level since 2021. Futures trading volume and open interest are both declining, indicating reduced leverage participation and cautious market sentiment. Technical indicators show that AVAX remains below all major moving averages, suggesting a overall downtrend, and its next move depends on whether this long-term support level can hold.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
AVAX is testing the lower boundary of a multi-year descending triangle around $8.60, a key support level since 2021. Futures trading volume and open interest are both declining, indicating reduced leverage participation and cautious market sentiment. Technical indicators show that AVAX remains below all major moving averages, suggesting a overall downtrend, and its next move depends on whether this long-term support level can hold.