TLDR
- AVAX trades at $6.55 with a market cap of $2.83 billion
- The coin is testing a long-term monthly demand zone
- Analyst The Boss points to targets up to $29.97 if support holds
- Active addresses rose 30% to near 119,600 daily users
- Bitcoin’s drop keeps the broader crypto market cautious
Avalanche (AVAX) is trading near a price level that traders have watched for months. The coin sits inside a support zone that has held up in past cycles.
At the time of writing, AVAX trades at $6.55. The 24-hour trading volume stands at $233.19 million.
The market cap for Avalanche is $2.83 billion. Price action has stayed calm over the past day.
Crypto analyst The Boss shared a chart on X pointing to this zone. The post said AVAX sits in a demand area that has drawn buyers before.
The Boss noted that AVAX lost several support levels during its long price drop. This current zone marks a spot where buying pressure returned in past downturns.
If the zone holds, The Boss listed several upside targets. These include $9.15, $10.85, $14.48, $19.65, $22.78, and $29.97.
The analyst also gave a warning. A confirmed monthly close below this zone would push the downtrend further.
Active Addresses Rise Sharply
Network data tells a different part of the story. Active addresses on Avalanche have grown.
Data firm MSB Intel posted on X that daily active addresses rose about 30%. The count reached near 119,600 users over the past week.
This marks a rise in wallet activity across the network. More people are using apps built on Avalanche.
MSB Intel’s post framed this as a sign of stronger usage. The rise came even as the price stayed flat.
Market Stays Cautious
Despite the network growth, AVAX price action remains neutral. The coin has not made a large move in either direction.
Part of this comes from the wider market. Bitcoin has moved lower in recent sessions.
A falling Bitcoin price often keeps other coins, including AVAX, stuck in a range. Traders tend to wait for Bitcoin’s direction before making bigger moves elsewhere.
For AVAX to move higher, buyers need to defend the current demand zone. On-chain activity keeps rising while this test plays out.
A successful defense could open the path toward the resistance levels named by The Boss. A break below the zone would likely extend the current downtrend.
As of the latest data, AVAX trades at $6.55 with a $2.83 billion market cap and $233.19 million in 24-hour volume.
