What to know:
- Avalanche RWA transfer volume surged 360.15% to $365.29 million over 30 days.
- AVAX trades at $6.45, with $6.915 remaining a key resistance level.
- Traders are watching MACD, volume, and the $6.915 breakout for confirmation.
Avalanche price has not seen any significant upticks despite the sharp increase in RWA activity, with AVAX currently held below an important resistance level.
As it stands now, AVAX has a value of $6.45, representing a drop in value of 0.11%. As can be seen from the TradingView chart, AVAX is still trading below the important resistance level of $6.915.
Also Read: Avalanche Price Prediction: AVAX Eye $30 Target After Bullish Signals
Why Is Avalanche Price Struggling With RWA Growth?
According to Avalanche’s latest X update, there is growing activity on the part of tokenized funds, stocks, treasuries, and private credit. Avalanche stated, “RWA are moving on Avalanche.” The post also reported that “30-day transfer volume reached $365.29M, up 360.15% from 30 days ago.”
The increase of 360.15% in RWA transfer volume has helped to build a strong fundamental story around the blockchain; nevertheless, this hasn’t been seen reflected in the price of AVAX based on the available data.
For the holders of the AVAX token, this is clearly an example of the difference between growth within the ecosystem and the price of the asset.
Also Read: Avalanche Price Prediction: Can AVAX Reclaim $10 After Strong Network Growth?
What Can We Learn From the Avalanche Price Chart?
TradingView shows AVAX forming a consolidation around $6.45 after its strong downward movement in June. The coin has been unable to break out of the resistance at $6.915, making it the most apparent barrier for buyers.
MACD hovers around the zero point level, and the MACD line is slightly above the signal line. The near-zero reading signals limited momentum rather than a strong directional move, thus keeping both breakout and further weakness scenarios open.
Also Read: Avalanche Price Could Rally Above $7 After $11 Billion RWA Achievement?
What Does Avalanche Price Derivatives Data Show?
According to CoinGlass, open interest in Avalanche has stayed close to between $240 million and $250 million during the recent period, indicating ongoing involvement in derivatives trading even though AVAX stays within the confines of the established price range.
There have been many surges in volume, but recent volume remains below some of the high levels seen in July. The liquidations that have occurred in the present period have been relatively low in comparison to some of the previous spikes.
Going past the $6.915 mark will be a stronger sign technically that the buyers have taken control. Unless it happens, the RWA catalyst has not resulted in a breakout in price.
What Should Avalanche Price Traders Pay Attention To Next?
The big question will be if the continued increase in RWA transfer volume can create new demand for AVAX. The traders should look at the $6.915 resistance level, trading volumes, and MACD momentum to confirm the move, knowing that if the resistance is not reclaimed, the existing consolidation will still hold.
The cryptocurrency market environment is extremely volatile; hence, the traders need to evaluate price action and upcoming catalysts before making any investments.
Also Read: Avalanche Price Eyes Strong Recovery if Bulls Reclaim $6.68 Resistance
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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