Overview
- AVAX hovered near $13 after a multi-week pullback, consolidating at a long-standing demand zone that has repeatedly absorbed sell pressure.
- Spot volume rose 41% to $301 million, futures activity climbed 21% to $591 million, and open interest inched to $515.5 million, indicating more positioning despite muted price action.
- A persistent descending trendline continues to cap rallies, with technicians pointing to $15–$16 as the level needed to confirm a bullish shift.
- If $13 fails, analysts flag $11.50 as the next key area with $10 as a stronger floor, while breakout scenarios propose targets around $24–$30 and, on a larger structural change, roughly $55.
- Fundamentals showed traction with a reported ~1,100% year-over-year TPS increase and fresh institutional touchpoints such as Bitwise 10 ETF inclusion and expanded USDC custody, as Ava Labs also presented an SEC–CFTC split oversight proposal in a meeting with the SEC Crypto Task Force.