AVAX has broken down from a symmetrical triangle, which usually indicates a bearish trend. Significant selling pressure is evident, as shown by the declining Cumulative Volume Delta (CVD) and the Relative Strength Index (RSI) being below 50.

Market analysis suggests that AVAX could see a price target around $20 following the bearish breakout. The MVRV ratio indicates the asset’s volatile nature, where high values may lead to profit-taking, while low values could indicate potential buying opportunities.

Open Interest (OI) for AVAX has decreased, reflecting reduced speculative trading. The current OI of 79.855 million shows traders are closing their positions, signaling uncertainty about future price movements.