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.

AVAX-2,09%
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