$AVAX It’s now 6.328, with a 24-hour amplitude of 3.4%. Volume/energy is 1.58 million—this isn’t small. There’s a detail in the on-chain data: over the past two days, a large address has been quietly accumulating. Even though the price hasn’t moved, the chips are concentrating.
There’s quite a disagreement in the community. One group is shouting to bottom-fish, while the other thinks it still needs to test 6.2. I also see that the contract funding rate has turned negative, and the crowding on the short side isn’t low. In that kind of situation, a rebound is actually more likely.
$AVAX This leg fell from 7.2 down to 6.2. The 6.2–6.3 zone is indeed the dense prior trading area, and whether the support holds depends on if it can keep defending that level. On the short-term 15-minute chart, there are signs that selling is stabilizing, but don’t rush to go all-in—wait for confirmation.
An old-veteran trader’s takeaway: after a shrinking-volume, bearish grind lower followed by consolidation, it often means they’re waiting for a catalyst. Look at how active the ecosystem around $SOL has been recently—on the Avalanche side there isn’t much new narrative, and the heat really isn’t comparable...
There’s quite a disagreement in the community. One group is shouting to bottom-fish, while the other thinks it still needs to test 6.2. I also see that the contract funding rate has turned negative, and the crowding on the short side isn’t low. In that kind of situation, a rebound is actually more likely.
$AVAX This leg fell from 7.2 down to 6.2. The 6.2–6.3 zone is indeed the dense prior trading area, and whether the support holds depends on if it can keep defending that level. On the short-term 15-minute chart, there are signs that selling is stabilizing, but don’t rush to go all-in—wait for confirmation.
An old-veteran trader’s takeaway: after a shrinking-volume, bearish grind lower followed by consolidation, it often means they’re waiting for a catalyst. Look at how active the ecosystem around $SOL has been recently—on the Avalanche side there isn’t much new narrative, and the heat really isn’t comparable...