AVAX has recently risen 12%, and nearly half of its holders have realized profits. It is currently facing a key resistance level of $29.
Avalanche has performed strongly recently, with prices hitting a three-week high of $26.52, reflecting the market's optimism after the Federal Reserve cut interest rates by 50 basis points on September 18.
Data shows that 49% of AVAX holders have made profits.
As Avalanche's attention in the decentralized finance (DeFi) field increases, its total locked volume (TVL) continues to grow, now reaching 38.63 million AVAX, indicating increased user activity.
From a technical perspective, AVAX has successfully broken through the downward trend line since May 2024, but there is strong resistance in the range of $27.92 to $30.14. If this area can be broken, the next target may be $33; but if market sentiment fails to maintain, the price may fall back to the 50-day moving average of $22.82, or even further down to the support level of $19.50.
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