Avalanche (AVAX) Price Prediction: At a Crossroads as Whales Exit the Market

Avalanche [AVAX] has been on a wild ride lately. This has taken crypto investors attention by storm. Let's break down what's happening and where it might go from here.

Cryptocurrency prices have been volatile in recent months, with some coins experiencing large gains and others seeing significant losses. One coin that has performed well lately is Avalanche (AVAX).

After breaking out of a bullish flag pattern on June 29, AVAX surged by 25% in two days to reach a price of $27.70. However, the coin has since pulled back from this high and is now trading at around $26.24.

Despite this pullback, AVAX is still up by 7% in the past 24 hours and showing signs of strength.

The price of AVAX has been supported by strong buying pressure from retail traders. According to data from Hyblock Capital, the whale-to-retail ratio for AVAX is currently at 35.16, indicating that smaller traders are driving up the coin’s price more than large traders.

This is also evident in the liquidity heatmap from Coinglass, which shows a large amount of sell orders at higher prices. This could make it difficult for AVAX to continue rising without some significant buying力が介入する。

Despite the coin’s recent price surge, on-chain data suggests that whales have become less active in the past few weeks. According to AMBCrypto analysis of IntoTheBlock data, large transactions on the AVAX network have decreased by over 45%.

This could be a sign that whales are taking profits or reducing their exposure to the coin. However, it is also worth noting that on-chain data can be noisy and difficult to interpret.

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