A whale transferred $2.4 million worth of AVAX to Coinbase in multiple transactions over 4 hours, retaining 865,400 tokens ($5.73 million) that remained unstaked and potentially available for further sales. Despite this pressure, AVAX price rose 6.8% to $6.79 in 24 hours, with daily volume surging 129.52% to $415 million. Binance top traders maintained a bullish bias with 65.82% long positions and a Long/Short Ratio of 1.93, supported by a positive Funding Rate of 0.0100%. The defense of the $6.30 support and MACD improvement (histogram at 0.050, MACD line above signal) positioned buyers for another challenge of the $7.00 resistance. A breakout above this level would open the path toward $8.00 and potentially $9.00.
Source: Read the original article
