An AVAX price move past the recent lower high at $15.06 would be required to shift the structure to bullish.
also saw a massive increase in the monthly chart, as dApps saw a surge in usage. Interest in NFTs was also on the rise.Source: AVAX/USDT on TradingView
The market structure of AVAX was bearish on the 1-day chart. A move past the recent lower high at $15.06 would be required to shift the structure to bullish. Even in that scenario, it would highlight bullish intent and not necessarily an uptrend. Because AVAX has formed multiple lower highs and lower lows in the past two months, the price was in a firm downtrend. To the north, the $13.88-$14.67 area represented a bearish order block.
It was likely that a retest of this zone would provide a strong bearish reaction. Alternatively, Avalanche token prices could surge momentarily to the $15-$15.1 region to catch breakout bulls offside before a reversal. The RSI flipped the neutral 50 level to support to show bullish momentum, but the OBV could not climb to the late May highs. This showed that the move upward was not backed by heavy demand for the asset.
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