Aave V4 spurs AVAX’s price hike, but will there be more gains ahead?
The last few days have seen some positives for AVAX's price.
With a trading price of $6.51 at press time, AVAX was up by 4.5% in the last 24 hours This latest hike came on the back of Aave deciding to expand its V4 protocol to Avalanche, making it the first network selected for the expansion.
However, it remains within the $5.8–$6.8 range, a zone AVAX has been consolidating within since early June 2026. Hence, the question: Is it likely to stay there?
Lmited confirmation for a sustained uptrend
Despite the recent price surge, AVAX has traded lower since early August. In fact, the OBV has trended lower too, suggesting that buying pressure has weakened lately.
Furthermore, the RSI seemed to be close to the 50- mark, suggesting that neither buyers nor sellers have gained clear dominance over the other.
Additionally, the MACD remained just below its signal line and was attempting to cross above it. Even if a crossover does occur, it would not breach the zero line in the short-term. This implied that the daily chart hasn’t confirmed that a bull trend is in play.
Is short-term momentum getting better?
The 4-hour chart presented a slightly different picture though.
The OBV saw a recent uptick, indicating that buyers had started to build some momentum. However, buying needs to continue to defend its $6.21 4-hour support level and push AVAX higher.
Furthermore, the RSI rose to 56 while the MACD crossed above its signal line and approached the zero line. This hinted at the strengthening of the altcoin’s short-term momentum.
However, with the zero line yet to be breached and the daily chart remaining neutral, the move could still prove to be a short-term spike, rather than the start of a sustained uptrend.
Final summary
- If the ongoing bullish momentum is sustained, AVAX could extend its near-term gains and retest the $6.8 resistance
- Buyers should remain cautiously optimistic as the recent surge in AVAX could be short-lived.
