Avalanche (AVAX) experienced a 24% price increase over the past 48 hours, testing a crucial support zone near $28. This movement comes amid increased whale activity and rising trading volumes. A substantial liquidation pool of 563K AVAX exists at $26.73 level, which could create price pressure and potentially trigger a short-term retracement.
Market analysts note that this level could act as either support or resistance, depending on how the market responds to the increased whale activity and overall trading volume. The price movement has maintained steady momentum since bouncing from the $22 level, though the approach toward previous support levels has introduced new technical factors to consider.
