AVAX price showed signs of weakness this week, trading within an ascending pennant pattern that hints at a bearish trend continuation. Technical analysts spot increased downside risk if the price drops below the support line of this setup.
At the same time, the Avalanche network’s staking rate climbed sharply to 41.5%, reflecting growing confidence from holders locking up tokens. This rise in staking often limits circulating supply, which could influence future price dynamics.
The combination of a bearish chart pattern and rising staking suggests a tug-of-war between selling pressure and long-term optimism among investors. Traders remain cautious as they watch whether sellers can push AVAX below its current support.
This content is for informational purposes and is not financial advice.
