AVAX to Find Key Support at $25 – Will AI Adoption
AVAX to Find Key Support at $25 – Will AI Adoption Add to the Avalanche?
At press time, Avalanche [AVAX] was testing key triangle support at a psychological level near $25 on the weekly chart.
Market participants are closely watching this key price level for signs of a possible price recovery as large trades and trading activity increase.
If AVAX can hold the $25 level, a strong rebound could be imminent given the increased bargain hunting activity.
In the meantime, the Avalanche ecosystem continues to expand. Notably, Kite AI launched the first AI-focused Layer 1 blockchain on February 6th, aiming to revolutionize decentralized AI development.
The impact of this development can be seen in the large number of AVAX participants.
Growing Interest in AVAX
According to IntoTheBlock, at press time, large AVAX trade volumes have surged by as much as 90% in the past 24 hours. The increase in large trade volumes is consistent with Avalanche's broader bullish outlook.
Historically, increases in whale activity have preceded large price moves.
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