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🔺 $AVAX Price Tests Key $35 Support: Bounce Incoming or Deeper Drop to $33?

Avalanche (AVAX) price is testing the critical support zone between $35.15 and $35.70. The price movement in this range has sparked attention among traders and analysts as the token determines its next trajectory.

Despite its $14.85 billion market cap AVAX crypto attracts widespread attention because it has $395.31 million daily trading volume.

The $35.15–$35.70 price range has emerged as a key area of support for AVAX. According to YG crypto, this level could mark a potential turning point for the token. If this support holds, AVAX may witness a strong bounce, signaling a possible bullish reversal.

“A sustained bounce from this zone could propel the price toward the upper resistance at $38,” analysts noted.

In the event of a break below $35, traders are eyeing the next support levels at $33.30–$34.00. This zone may attract buyers seeking lower entry points, potentially leading to an accumulation phase.
However, should this level fail to hold, AVAX price could move further downward toward $32, a historical consolidation zone.

🔸 #AVAX Price Upside Potential and Resistance Levels

A strong upward movement in AVAX prices from its present support point offers opportunity for growth. Buyers currently see $38 as their main ideal price area after previous price movement locked in between $32 and $38.

Experts predict resistance at $40-$42 will become stronger since traders once rejected those levels.The next resistance level at $46 represents a key milestone traders must overcome to continue the upward trend.

The market needs solid demand growth and active investor involvement to reach this milestone despite low current trading activity at $395 million over the last 24 hours.

🔸 Whale Activity and Holder Sentiment

Data from IntoTheBlock shows 59% of AVAX crypto owners earned profits at $36.19 but 33% lost money when the token hit $36.19. Most folks (58%) plan to keep AVAX for at least 12 months to show their trust in the project.

Why Did the Crypto Market Drop Today? 💹
Today, the crypto market took a noticeable dip, leaving investors wondering what triggered the sell-off. Here are the key reasons behind the decline:

1️⃣ Regulatory News: Recent announcements from major governments hint at tighter regulations on crypto trading and DeFi platforms. This has created uncertainty among investors, leading to a risk-off sentiment.

2️⃣ Macroeconomic Factors: Global markets are feeling the pressure of rising interest rates and fears of an economic slowdown. Crypto, often seen as a high-risk asset, tends to suffer during such periods.

3️⃣ Whale Movements: On-chain data shows significant transfers of Bitcoin and Ethereum to exchanges, signaling potential sell-offs by large holders. These movements often trigger panic selling among retail investors.

4️⃣ Market Corrections: After a period of steady gains, markets tend to correct. Crypto is no exception, and today’s drop might simply be part of a larger consolidation phase.

📉 What’s Next?
While the drop can be unsettling, it’s crucial to zoom out and focus on long-term trends. Volatility is part of the game in crypto, and periods like this often create opportunities for strategic investors.

👉 What do you think about today’s dip? Is it a buying opportunity or a sign of more pain ahead?

#CryptoNews #MarketUpdate #Bitcoin #Ethereum #Investing #CryptoDip

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