AVAX Sees 350% Increase in Daily Active Addresses Within 24 Hours
Surge in Daily Active Addresses: AVAX daily active addresses increased by 350% in just 24 hours, indicating a significant rise in user engagement on the Avalanche blockchain.
Implications for the Ecosystem: This spike suggests potential growth in the adoption of Avalanche-based dApps and DeFi platforms, possibly linked to network upgrades or new project launches.
User Behavior Shift: The increase reflects a change in user behavior, with more wallets interacting with the network, which could lead to higher transaction volumes and increased activity in DeFi and NFTs.
Potential for Bullish Trend: Historically, such increases in daily active addresses can signal the start of a broader market rally, prompting investors to monitor if this momentum continues for AVAX.
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Technical Analysis for AVAX
Technical Sentiment Analysis for Avalanche (AVAX) As of , Avalanche (AVAX) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for AVAX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, AVAX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Avalanche (AVAX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 4.369 | 5.959 | 7.719 | 9.309 | 11.069 | 12.659 | 14.419 |
| Fibonacci | 5.959 | 7.239 | 8.03 | 9.309 | 10.589 | 11.38 | 12.659 |
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