The range formation’s mid-level support at $36 needs to be defended, but the bulls could fail at this task.managed to climb past the $70k level, AVAX bears remained resolute. Here’s what traders can anticipate for the coming week.The price action of 20th June, Monday, saw the high and low at $36.27 and $34.56 respectively. Sometimes, the week’s trading is confined within the Monday’s low and high, forming a short-term range.
However, this momentum might die out quickly. The RSI on the daily chart was still below neutral 50, and the CMF showed an unconvincing capital inflow to the AVAX market. Short sellers could scour the lower timeframes for entries that suit their system, as the higher timeframe bias was bearish.The cumulative liq levels delta was positive, and high enough that it might warrant a liquidity hunt northward.