$AVAX did 4x its normal volume on Monday. Today it's already giving some back.
Nov 9 (UTC): 54M USDT spot volume vs about 13.5M a day over the 8 days before. Price went 7.936 to 8.656, +9.1%.
Today it's at 8.577, under Monday's close of 8.656.
What I'd want to see before calling it real demand:
- Volume staying well above the old 5-23M range, not one spike and gone
- A daily close back above 8.656
- Funding staying calm. It was negative after the pump and is flat now at +0.0008%
One day of volume is a question, not an answer.
Real demand or a one-day squeeze: which is it for you?
NFA. $AVAX
Nov 9 (UTC): 54M USDT spot volume vs about 13.5M a day over the 8 days before. Price went 7.936 to 8.656, +9.1%.
Today it's at 8.577, under Monday's close of 8.656.
What I'd want to see before calling it real demand:
- Volume staying well above the old 5-23M range, not one spike and gone
- A daily close back above 8.656
- Funding staying calm. It was negative after the pump and is flat now at +0.0008%
One day of volume is a question, not an answer.
Real demand or a one-day squeeze: which is it for you?
NFA. $AVAX
