AVAX Bulls Eye $7.20 as RWA Volume Soars 360%

Avalanche's AVAX token has been on an uptrend for three consecutive days after bouncing off the pennant support at around $6.14.

The recovery is backed by a surge in real-world asset (RWA) activity, with a 360% increase in RWA transaction volume to $365.29 million over the past month.

This significant increase in RWA participation has generated steady transaction fee revenue and scaled the network's utility.

The involvement of larger market players, or 'whales', is also on the rise, with increasing average order sizes in spot and futures markets.

If a breakout from the current consolidation phase occurs, the next major level for AVAX bulls could be $7.20, where a liquidity cluster worth approximately $1.13 billion exists.