AVAX experienced a retracement toward the $7 demand zone in late August, which has since been defended. On September 2nd, Avalanche initiated a bullish reaction toward the $8 level despite Bitcoin falling below $80,000. Open interest increased from $145.6 million to $164.9 million while funding rates remained positive, indicating bullish market positioning. Aave V4 deposits on Avalanche reached an all-time high of $19.1 million, supporting the trend. Traders can maintain a bullish bias as long as the $7.1 support holds, with a potential target of $8.65 then $9.46 if the $8.1 supply zone breaks.
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