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Following
AVAX AVAX's current price is US$6.55, and active addresses surged 30% to 119,600.
AVAX's current trading price is US$6.55, with a market value of US$2.83 billion. The cryptocurrency is currently in a key support area that has attracted buyers multiple times in previous market cycles.
Long-term Support and Price Targets
Based on market analysis, AVAX is testing a long-term monthly demand area that has previously reversed bearish trends. Cryptocurrency analyst The Boss pointed out that the token has lost multiple key support levels during its recent decline, but the current range has historically been able to reignite buying interest.
If AVAX can hold this support level, multiple upstream target bits have been found. The Boss set potential price targets of $9.15,$10.85,$14.48,$19.65,$22.78 and $29.97 respectively, which means that if market sentiment turns optimistic, there may be multiple phased upward steps.
The Boss explained that AVAX is currently within this long-term demand area and could lay the foundation for a recovery, but he also warned that if the monthly close confirms below that level, it is likely to trigger further downward momentum. AVAX's daily trading volume was US$233.19 million, and price movements have been relatively stable over the past 24 hours.
Avalanche network activity has increased significantly
On-line data shows that user engagement on the Avalanche platform has increased significantly. Data analysis firm MSB Intel reported that the number of daily active addresses increased by approximately 30% over the past week to nearly 119,600.
This increase suggests greater engagement among web users and developers, with more and more wallets interacting with Avalanche native decentralized applications. MSB Intel emphasized that despite the flat price trend, the increase in the number of active wallets indicates participants 'potential confidence or interest in the network ecosystem.
Overall market sentiment remains hesitant
AVAX's price trend is basically flat despite the surge in online activity. As Bitcoin continues to experience downward pressure in recent transactions, the entire cryptocurrency market has become cautious.
Bitcoin's performance often affects the direction of the altcoin market. Many traders are reluctant to conduct large-scale operations on AVAX and other tokens until they make a clear judgment on the trend of Bitcoin.
While AVAX is testing the main support levels, rising on-chain activity has also attracted attention to connecting traditional financial and digital asset platforms. A platform provides simplified access to real-world assets directly on the blockchain, including stocks of leading U.S. companies and commodities such as gold and silver. The platform allows users to diversify their investment portfolios directly from their cryptocurrency wallets while getting optimal prices and fast transactions without relying on intermediaries.
For AVAX to start a sustained rebound, buyers must continue to support the current demand area. Successful holding could open a path to resistance levels identified by analysts. However, if the area falls, the asset may continue the current downward trend.
AVAX remains the focus of the market, trading at $6.55, its network activity accelerates, and the market is waiting for Bitcoin's decisive move.
