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02/09 10:33

AVAX faces critical support at $25 – Will AI adopt

AVAX faces critical support at $25 – Will AI adoption boost Avalanche?


At press time, Avalanche [AVAX] was testing a key triangle support at around $25 psychological level on the weekly charts.

With a surge in large transactions and increased trading activity, market participants kept a close eye on potential signs of a price rebound at this key price level.

If AVAX can hold the $25 level, there could be a strong rebound soon, considering the growing buying activity at the dip.

Meanwhile, Avalanche’s ecosystem continues to expand. Notably, the first AI-focused Layer 1 blockchain by Kite AI was launched on the 6th of February, with an aim to revolutionize decentralized AI development.

The influence of the development is evident by the AVAX’s large player activity.

AVAX’s rising interest
AVAX’s large transactions had surged significantly by 90% in the last 24 hours until press time, according to IntoTheBlock data. This increase in large transactions goes in line with the broader bullish outlook of Avalanche.

Historically, such an increase in whale activity would precede big price movements.

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