- Avax’s trading activities have been reduced to a point, but whales are coming in as retail investors escape the market.
- Purchase activities are still high, but prices may not continue to rise.
Avalanche (Avax) has fallen 4.12% over the last 24 hours. This trend lasted over the past month, and the highest cumulative gain was 5.32%.
According to market analysis, some possibilities for the trajectory of assets, especially retail merchants, and the whales are further activated.
What is behind Avax’s recent trend?
According to Nansen’s report, Avax is in paradoxical market position due to the contrasting behavior of whales and retailers.
This analysis recently confirmed the retail interest by 34% reduction in the 74% reduction (414,234) and 2,990,667.
Source: Nansen
Interestingly, the transaction fee has soared due to the surge in transaction fees and the analysis that whales (whales) are behind the spike.
In the last seven days, the commission on the blockchain has increased 116%, reaching $ 243,280, and much of which is due to these institutions.
Whale activities generally support market rally because they generally increase confidence. AMBCRYPTO tracked the market impact of this trend.
What does the existence of whales mean?
The change was more confirmed in the field market.
In just 24 hours, the whale wallet was ashamed of $ 16.6 million on April 6, so he was ashamed of this year’s accumulation of $ 16.6 million.
Source: COINGLASS
Only this week, merchants have acquired $ 22.96 million worth of AVAX, indicating that the central exchange buyer sees the current price as a significant discount.
Source: Artemis
AVAX trading activities are also increasing on the Distributed Exchange (Dexes). Dex volume is currently reaching $ 161 million.
If this rising trajectory continues, the assets can recover more than $ 200 million, which can strengthen prices.
How did Avax react?
The presence of AVAX on the chart is still strong but can face a significant resistance to $ 26.47.
If this resistance is maintained, AVAX can return to the triangle pattern of ascending triangle in the purple line and continue to trade within this range.
But you can send your assets more than $ 26.47 to $ 41.90.
Source: TradingView
This view depends on two elements. If whale purchases continue and the spot market continues to absorb assets, AVAX can reach the top goal.
However, if the retailer continues to lose its stake, it affects the price movement and can increase the possibility of returning to the previous transaction pattern.