Avalanche (AVAX) continues to show resilience in a market where most assets are struggling to establish direction. Over the past week, AVAX recorded an impressive 14.28% gain, while the last 24 hours kept the coin relatively stable.
At the time of writing, AVAX is trading at $34.22, supported by a market capitalization of $14.45 billion. Trading volume over the last 24 hours stood at $1.8 billion, reflecting a 32.99% decline, which suggests traders may be consolidating positions and waiting for stronger signals before increasing activity.
This performance highlights how AVAX is emerging as a standout in a largely neutral-to-bullish market environment. Despite reduced trading activity, the steady trajectory of its price underscores increasing confidence among investors that Avalanche can sustain momentum.
Large holders of AVAX are showing renewed conviction in the asset. A wallet identified as 0xb2ca opened a significant 5x leveraged long position on 514,906 AVAX, valued at $17.2 million. Within hours, this position generated $920,000 in unrealized profit, reinforcing the narrative of whale-driven optimism.
In addition, a well-known figure in the crypto space, Ogle, who serves as an advisor at World Liberty Finance, also made a strategic move. Just an hour before the latest update, he opened a 10x long on 66,479 AVAX, totaling $2.2 million.
The total weight of such transactions implies growing whale and institutional optimism about the short-term future price of Avalanche. These are frequently a leading indicator among retail investors because whales tend to invest capital with conviction and a long-term perspective.
Also Read: Is Avalanche (AVAX) on the Path to Break Past $146 ATH in the Next Bull Run?
Chart patterns suggest a bullish formation that could define AVAX’s trajectory in the coming weeks. AVAX is trading at approximately $34.33 and creating an ascending triangle pattern defined by higher lows and repeated tests of a downtrending resistance line.
The breakout region is from $35 to $40, an area that has also acted both as support and resistance. When the breakout occurs from this region with high volume, technical projection puts a possible target at $150. Key checkpoints along the way are at $61 and $85, where there were past price reactions.
However, until it’s confirmed, AVAX could remain range-bound or backtest support areas near $25 or even $15. Risk management still holds, but the setup offers one of the best bullish patterns emerging in the modern marketplace.
Also Read: Avalanche (AVAX) Aims to Raise $1B for Cryptocurrency Stacking Vehicles, Report Says.
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