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AVAX Price: Double Bottom Completed, Next Move Depends on $28 Level
AVAX Price– Avalanche’s [AVAX] ecosystem is on a roll. Following the Octane upgrade, which improved transaction speeds and slashed fees, the total value locked (TVL) surged 40% QoQ to $1.5 billion. The market clearly likes what it sees—but is this just a spike, or the start of something bigger?
Traders Turn Bullish as Derivatives Heat Up
AVAX Open Interest has jumped over 15% in the past week, hitting $835 million—a clear sign that traders are increasing exposure. Rising derivatives activity often hints at bullish expectations, though it also adds volatility risks if overleveraged positions unwind.
That said, sustained growth in Open Interest suggests growing confidence, and if paired with spot demand, it could fuel further upside.
Technical Breakout or Bull Trap?
AVAX just completed a classic double bottom and broke out of its descending trendline. Now, it’s testing the $26–$28 resistance zone, a key level historically.
If bulls manage a clean breakout above this level, a stronger rally could follow. But failure to close above resistance may trigger a short-term pullback.
Why Price Is Rising While Hype Fades
Oddly, AVAX’s social dominance has dropped to just 0.419% despite the price rally. However, weighted sentiment remains slightly positive at +0.115. This suggests traders are turning optimistic, but retail attention hasn’t yet followed.
For the rally to sustain, social buzz may need to catch up with price action.
