Avalanche's (AVAX) price has surged to a monthly high, aiming to break a crucial resistance level. Investors are looking to secure profits, potentially hindering further gains. The altcoin's price struggles at $31, seeking to surpass a key resistance for recovery and profits. The Global In/Out of the Money indicator shows significant AVAX holdings between $29 and $34, totaling over $358 million. However, some investors have already cashed in at $32, impacting potential profits. With active addresses showing 39% in profit, selling pressure could affect AVAX's price. Trading at $31, AVAX faces resistance at the 23.6% Fibonacci Retracement line of $33, crucial for preventing a downtrend. The market sentiment suggests consolidation between $33 and $27, with a breakout or breakdown determining future price movements. This analysis serves as information only, not financial advice, urging readers to conduct thorough research before investment decisions. Read more AI-generated news on: https://app.chaingpt.org/news