AVAX price finds itself at a critical technical juncture, with price action flashing bearish signals despite strong on-chain activity on Avalanche.

After a steep downtrend that bottomed in mid-March, Avalanche Avalanche

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Avalanche price reversed from a double bottom pattern and began consolidating within an ascending channel, maintaining bullish momentum through the end of the month, as confirmed by a rising RSI.

Since then, however, the price action has developed into what looks like a descending triangle pattern, with price now hovering near key horizontal support. Importantly, AVAX price has also broken below the ascending channel’s lower boundary, suggesting a potential shift in market structure from bullish consolidation to emerging bearish pressure.