AVAX is currently trading within a tight consolidation range on the daily timeframe, but the underlying structure suggests this is not a neutral phase. The formation of consistent lower highs indicates that bearish pressure remains dominant, with sellers stepping in at progressively lower levels. This type of price behavior often reflects distribution, where smart money positions for continuation rather than reversal.

The broader trend leading into this consolidation is clearly bearish, which further strengthens the probability of a downside breakout. Additionally, the range has established a well-defined liquidity target below, aligning with previous lows where resting orders are likely concentrated.

If price breaks below the current support range with momentum, it could trigger a sharp move toward that target. Until AVAX reclaims higher resistance levels and invalidates the lower high structure, the bias remains bearish, and traders should approach upside moves cautiously. $AVAX

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