Avalanche (AVAX) Whale Activity Surges, Can Price Rebound?

Avalanche [AVAX] has seen a significant rise in whale activity, according to data from IntoTheBlock. As of this writing, its large transactions have surged by an impressive 98%.

cryptanalytic-outputAccording to IntoTheBlock, compiled data show that in the past 24 hours, the amount of large transactions reached US$226 million. Despite the AVAX token’s price drop, big players in the market appear to be growing more interested in it.

cryptanalytic-outputAccording to IntoTheBlock, compiled data shows that in the past 24 hours, the amount of large transactions reached US$226 million. Despite the decline in AVAX token prices, market players appear to be increasingly interested in it.

However, this surge has not had a significant impact on trading activity, but the token price is currently accumulating bullish momentum.

However, this surge has not had a significant impact on trading activity, but the token price is currently accumulating bullish momentum.

Interestingly, this surge in whale activity has not translated into an increase in active addresses. Data from IntoTheBlock shows a decline in the number of active addresses, suggesting big investors are making big moves, but smaller traders or retail investors remain skeptical.

Interestingly, this surge in whale activity did not translate into an increase in active addresses. Data from IntoTheBlock shows a decline in the number of active addresses, suggesting big investors are making big moves, but smaller traders or retail investors remain skeptical.

Market participants may simply be waiting for a clear market signal to reinvest funds.

Market participants may simply be waiting for a clear market signal to reinvest capital.

Data from Coinglass shows that AVAX’s liquidation data shows a bullish bias, with around $23 million worth of the token currently at risk of liquidation as long as the asset price touches $31.

Data from Coinglass shows that AVAX's liquidation data shows a bullish bias, with approximately $23 million worth of tokens currently at risk of liquidation as long as the asset price touches $31.

This shows that traders are bullish on price growth in AVAX in the short term and are taking bullish positions.

This shows that traders are bullish on price growth in AVAX in the short term and are holding bullish positions.

Another piece of evidence that the market is set for a price recovery following AVAX’s recent decline can be seen in the liquidation pool.

Another piece of evidence that the market is set for a price recovery after AVAX's recent decline can be seen in the liquidation pool.

AVAX price is currently testing the key support level at $25.13. The coin is accumulating bullish momentum after falling 22% over the past week.

AVAX price is currently testing the key support level at $25.13. The coin is accumulating bullish momentum after falling 22% over the past week.

The next few days will be crucial for AVAX as its price must hold at this support level or it could fall further. However, if the support holds, there is still hope as the chances of a price reversal higher will increase.

The next few days will be crucial for AVAX as its price must hold at this support level or it could fall further. However, if the support holds, there is hope as the odds of a price reversal higher will increase.

Despite the surge in whale activity, AVAX’s price action has been relatively flat over the past 24 hours.

Despite the surge in whale activity, AVAX's price action has been relatively flat over the past 24 hours.

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