Avalanche activity surges 20x, yet AVAX could slip below $11 – How?
Avalanche (AVAX) has seen a significant increase in on-chain activity, with active addresses rising from 30K to over 600K in a week, indicating growing interest in DeFi and tokenization. However, despite this surge, cooling futures market conditions and a weakening MACD suggest potential price declines, with AVAX possibly slipping below $11. The price action shows a bearish descending triangle pattern, and if support at $11.3 breaks, it could drop to $8.60. Conversely, reclaiming $18-$22 could lead to a rise towards $43, depending on market sentiment.
Amb Crypto·