AVAX is around 36.72 USD, showing bearish signals post its previous peak of 55 USD. A decline in Open Interest suggests traders are exiting positions, reflecting weak speculative interest in the short-term.
Resistance is noted between 40 and 42 USD, a range where previous sell-offs occurred. Support stands at 27 USD; if breached, AVAX could fall to as low as 25 USD, raising concerns for traders.
A declining RSI near 35 indicates weakening buying pressure and potential oversold conditions. Increased short positions against longs are further signs of bearish sentiment, with price action likely facing continued downward pressure.