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The Cryptocurrency Market Crisis: Can Avalanche (AVAX) Rebound?

The cryptocurrency market has been in a state of crisis, with many digital assets losing their value. However, there are indications that Avalanche (AVAX) may be poised to rebound despite the current bearish mood.

The recent increase in whale activity suggests that AVAX is attracting large investors who may result in a price hike. In the past 24 hours, there has been a 98 percent increase of large transactions worth $226.19 million. This indicates that large investor capital is driving AVAX, and they are confident it will outperform its competitors.

Smaller traders may still be wary, as the number of active addresses is dropping, but the increased interest from whales could indicate what’s to come. Learn more about AVAX price prediction and market analysis on CoinSeeks.com.

Coinglass data indicates that AVAX is a bullish coin, with $23 million worth of the cryptocurrency at risk of liquidation if the price hits $31. A significant amount of buying pressure is being created, indicating that the value of AVAX could increase if it breaks this crucial level.

At present, AvaX is testing a critical support level at $25.13, which has been one of the most important areas for resistance in history. If this level remains steady, it could pave the way for another price rally. A significant correction in the past week has resulted in a 22% drop in AVAX’s price, which could have allowed the cryptocurrency to consolidate and prepare for an upswing.

The possibility of leverage on the $31 price pool is also worth considering as well. If AVAX prices reach this level, there could be fervor among investors who may buy into the possibility that higher prices could lead to more buying. This could result in a significant increase in value, as the demand for AVAX rises.

While it’s not clear how much of – just how bullish – the market is going to respond for several weeks, the uptick in whale activity and bias towards AVAX are certainly positive signs; if the support level at $25.13 persists and the liquidation pool starts at $31, there can be no doubt about the underlying volatile nature of the cryptocurrency market, where prices can fluctuate rapidly.

The current signs are positive for AVAX investors, but the market is still shaky. It will be interesting to see how AVCX reacts to the growing interest from major investors. Finally, the recent increase in whale activity and bullish bias surrounding AvaX suggest that the cryptocurrency may experience a rebound. AVAX’s price movements and market sentiment will be closely monitored as the situation carries on.

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