Avalanche
Avalanche Falls as Whale Buying Signals Potential Support
AVAX dropped 2.39% to $6.34 as altcoin rotation weighed on price, though whale accumulation and rising RWA volume suggest underlying strength.
Avalanche fell to $6.34 over 24 hours as investors rotated out of higher-risk alternative assets, with 18 of the 20 largest cryptocurrencies also trading lower. The decline has no clear network-specific catalyst; instead, it reflects broader market positioning rather than Avalanche-focused events.
Countering the downward pressure, whale activity offers a different signal. One large holder moved 887,000 AVAX—worth roughly $5.6 million—from Binance, suggesting accumulation at lower prices. Over the past 30 days, Avalanche's real-world asset transaction volume reached $365.29 million, indicating sustained developer activity.
Technically, AVAX is testing critical support near $6.25, the 78.6% Fibonacci retracement level. The token remains confined within a pennant pattern, and analyst Michaël van de Poppe anticipates a sharp volatile move while price stays trapped in this range. He expects a dip below recent lows followed by an immediate bounce. Holding the $6.25 level could allow a retest of $6.46 resistance, while a break below would expose the yearly low and validate the downtrend. Short-term momentum remains bearish, with the relative strength index at 42.
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