Avalanche [AVAX] is making waves in the crypto space again, with network activity surging dramatically. Daily transactions have soared by an impressive 275% since early May, now averaging 759,000 per day. At the same time, monthly active addresses crossed 2.2 million, underscoring renewed ecosystem interest driven by subnet expansion, DeFi momentum, and Web3 gaming integrations.
Monthly active addresses surged past 2.2 million.
— Avalanche🔺 (@avax) June 10, 2025
Growth was driven by new L1s, gaming traction, and rising DeFi activity across the network. pic.twitter.com/U8GYhYcVjd
This uptick in user engagement suggests a pivot away from pure speculation toward real-world utility. However, the key question remains—can this on-chain growth catalyze a significant price breakout?
AVAX Price Tests Fib Confluence Near $24
AVAX is currently trading near a strong resistance band between $22.5 and $23.6, aligning with the critical 0.5–0.618 Fibonacci retracement zone from April’s price drop. The token has held its ground within an ascending channel, signaling that the bullish market structure remains intact.
Yet, the Stochastic RSI has entered overbought territory, indicating a potential short-term cooldown. A clear break and close above $24.1 could, however, flip market sentiment bullishly and pave the way for a stronger rally.
Bullish Sentiment Builds—But Not Without Doubt
Taker Buy Dominance on the spot market has surged, pointing to confident buying activity rather than passive accumulation. This suggests bullish momentum is building in real time.
Additionally, data from IntoTheBlock shows a +45.60% rise in Large Holder Netflow over the past 90 days—indicative of long-term accumulation. That said, a -53.31% drop over the last 30 days hints at some whales taking profits as AVAX approaches resistance.
Cautious Optimism in Derivatives Market
Open Interest rose 11.37% to $558 million, with trading volumes holding steady at $1.16 billion. While this rise reflects growing speculative interest, the lack of excessive leverage shows traders remain cautious.
Binance’s Liquidation Map reveals a cluster of long liquidations between $23.3 and $24.5—adding weight to this zone as a crucial battleground. A successful breakout could trigger cascading short liquidations and magnify upward pressure.
Also Read: VanEck Files for Avalanche (AVAX) ETF: Will It Ignite a Crypto Rally?
Avalanche’s network activity is booming, but price remains tethered to key resistance. Whether AVAX breaks out or retreats depends largely on whale behavior and market conviction. A decisive flip above $24 could unleash a bullish wave—while rejection could send prices back to support, despite Avalanche’s robust fundamentals.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
