๐ AVAX Consolidates Near Key Levels
Avalanche (AVAX) is consolidating between $33 and $41, fueling anticipation of a major move. Priced at $35.79 at press time, traders are closely watching for a breakout to confirm a bullish swing.
๐ Potential Breakout Setup
AVAX is trading within a descending triangle, with support at $33 and resistance at $37. A breakout above $41 could trigger the predicted 40% rally, while repeated rejections may lead to prolonged consolidation.
๐ค AVAX AI Boosts Ecosystem
The introduction of AVAX AI, backed by Avalaunch and AVentures DAO, is set to enhance the Avalanche ecosystem. The AI hub and upcoming IDO on Apeterminal could position Avalanche as a leader in AI-blockchain integration, driving long-term adoption.
๐ On-Chain Metrics Show Mixed Signals
Network growth rose 0.42%, and whale concentration increased 0.70%, reflecting accumulation. However, the โin the moneyโ metric fell 6.48%, indicating caution among holders. Market participants remain undecided, awaiting confirmation of AVAXโs next move.
๐ก Sentiment Awaits a Bullish Shift
Weighted sentiment was mildly negative at -0.209, reflecting hesitation among traders. A breakout above resistance could flip sentiment and inject bullish momentum into the market, validating the anticipated rally.
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