Capital Flow Tracking | AVAX: Single-Day Plunge of 5.17%, Yet On-Chain Activity Spikes
Today, AVAX suffered a sharp correction, with a 24-hour drop of 5.17%. The price fell from $11.04 to $10.47, and trading volume reached 5.78 million USDT.
However, what’s worth noting is that despite the price decline, on-chain activity has climbed unusually. According to Binance data, AVAX’s trading-pair activity today increased by 23% compared with yesterday, suggesting that market sentiment is not entirely bearish.
From a technical perspective, AVAX is consolidating in the $10.12–11.40 range and is currently near the support level. If it can hold above $10.5 effectively, a technical rebound may follow.
Conclusion: Short-term correction pressure remains, but on-chain data hints at active bargain buying. Keep an eye on how AVAX performs at the $10.5 support level.
Risk Warning: The cryptocurrency market is highly volatile. Invest with caution and be sure to implement risk management.
Today, AVAX suffered a sharp correction, with a 24-hour drop of 5.17%. The price fell from $11.04 to $10.47, and trading volume reached 5.78 million USDT.
However, what’s worth noting is that despite the price decline, on-chain activity has climbed unusually. According to Binance data, AVAX’s trading-pair activity today increased by 23% compared with yesterday, suggesting that market sentiment is not entirely bearish.
From a technical perspective, AVAX is consolidating in the $10.12–11.40 range and is currently near the support level. If it can hold above $10.5 effectively, a technical rebound may follow.
Conclusion: Short-term correction pressure remains, but on-chain data hints at active bargain buying. Keep an eye on how AVAX performs at the $10.5 support level.
Risk Warning: The cryptocurrency market is highly volatile. Invest with caution and be sure to implement risk management.