Avalanche (AVAX) Holds Near Long-Term Demand Zone as Active Addresses Rise 30%
Key Takeaways
- •AVAX is trading at $6.55 with a market cap of $2.83 billion and 24-hour volume of $233.19 million.
- •Crypto analyst The Boss said the token is in a demand zone that has attracted buyers in previous downturns.
- •The analyst listed upside targets of $9.15, $10.85, $14.48, $19.65, $22.78, and $29.97 if the zone holds.
- •A confirmed monthly close below the current support area would likely extend AVAX’s downtrend.
- •MSB Intel said Avalanche daily active addresses rose about 30% to nearly 119,600 over the past week.
Avalanche (AVAX) is trading near a price level that traders have watched for months, with the token sitting inside a support zone that has held in past cycles.
At the time of writing, AVAX trades at $6.55. The 24-hour trading volume is $233.19 million, and Avalanche’s market cap stands at $2.83 billion. Price action has been subdued over the past day.
Crypto analyst The Boss shared a chart on X pointing to this zone. The post said AVAX is in a demand area that has attracted buyers before. The Boss noted that AVAX lost several support levels during its long price decline, and said the current zone marks a point where buying pressure returned in previous downturns.
If the zone holds, The Boss listed several upside targets: $9.15, $10.85, $14.48, $19.65, $22.78, and $29.97. The analyst also warned that a confirmed monthly close below this zone would extend the downtrend.
Active Addresses Rise Sharply
Network data shows a different picture. Active addresses on Avalanche have increased.
Data firm MSB Intel posted on X that daily active addresses rose about 30%, reaching nearly 119,600 users over the past week. The increase points to higher wallet activity across the network and suggests that more people are using applications built on Avalanche.
MSB Intel described the rise as a sign of stronger usage, even as the token price remained flat. That contrast matters for traders and developers watching Avalanche’s ecosystem, because sustained network activity can be a useful sign of engagement even when market sentiment stays cautious.
Market Remains Cautious
Despite the network growth, AVAX price action is still neutral, with no major move in either direction.
The broader market is also weighing on sentiment. Bitcoin has moved lower in recent sessions, and a weaker Bitcoin price often keeps other cryptocurrencies, including AVAX, range-bound as traders wait for clearer direction.
For AVAX to move higher, buyers will need to defend the current demand zone while on-chain activity continues to rise. A successful defense could open the way toward the resistance levels identified by The Boss. A break below the zone would likely extend the current downtrend.
As of the latest data, AVAX trades at $6.55 with a $2.83 billion market cap and $233.19 million in 24-hour volume.