- Despite recent weekly gains, AVAX faces steep monthly and yearly declines, remaining far below its all-time peak.
- FIFA partnership, a VanEck fund, and over 1 million daily transactions signal strong fundamental activity for Avalanche.
Avalanche (AVAX) is trading at $21.82 USD, showing a sharp −3.32% drop on the day. Despite this short-term decline, AVAX has risen +3.12% over the past week, although it remains −12.02% for the month, −38.79% year-to-date, and −58.96% over the last six months. From its all-time high of $147.50, AVAX is now down approximately −67.95%.
AVAX is currently consolidating just above the $21 support zone, a level that coincides with increased trading volume and prior structure. Traders are watching for a potential bounce from this area; however, failure to hold this level could lead to a retest of the $18–$19 support range.
AVAX Traders Position for Potential Move as Speculative Activity Grows
Avalanche’s AVAX token shows signs of building speculative pressure. Data indicates Open Interest, reflecting the total value of unsettled futures contracts, increased by 11.37% to reach $558 million. Trading volume remains consistent at $1.16 billion. This combination points to renewed trader interest in AVAX derivatives markets.
Binance’s liquidation data identifies a concentration of potential forced buy orders between $23.30 and $24.50. This area acts as a major resistance level.
If the price moves upward quickly and breaks through this zone, it could force traders betting on lower prices to buy back AVAX. This buying could add fuel to any upward movement. Conversely, if the price fails to surpass this barrier, buyers may face losses, potentially increasing downward pressure on AVAX.
ETHNews analysis of large holder netflows shows a 45.60% increase over the past 90 days. This points to major investors accumulating AVAX for the longer term. However, looking at the most recent 30 days reveals a different picture: a 53.31% decrease in net inflows.
Upside targets in a bullish scenario include $25.50 and $29, where historical resistance lies. Oscillators and moving averages on TradingView show a neutral trend, suggesting indecision in the current market.
- FIFA Partnership: Avalanche has partnered with FIFA to launch an EVM-compatible blockchain for NFTs, migrating assets from Algorand and Polygon to Avalanche—a significant step toward mainstream visibility.
- Institutional Support: VanEck launched a dedicated Avalanche ecosystem fund, showing growing institutional confidence.
- On-chain Activity: Avalanche recently surpassed 1 million daily transactions twice in one week, signaling strong network usage despite the bearish price action.
