AVAX Eyes $30 Target as Avalanche Network Sees Strong User Growth
Avalanche (AVAX) is approaching a critical long-term support zone that could determine its next market trend.
Rising on-chain activity signals stronger user engagement and ecosystem growth, potentially strengthening investor confidence if the positive momentum continues.
The current price of AVAX is $6.55 with a 24-hour trading volume of $233.19 million and a market capitalization of $2.83 billion.
According to crypto analyst The Boss, Avalanche (AVAX) is trading within a crucial historical demand zone on its monthly chart after losing several major support levels during its prolonged downtrend.
The area has historically attracted strong buying interest, making it a key technical level that could slow bearish momentum and potentially mark the beginning of a long-term accumulation phase for investors.
Avalanche Active Addresses Jump 30% in One Week
The data from MSB Intel further highlighted that Avalanche has been buzzing lately, having seen its average number of active addresses increase by about 30% to around 119,600 daily active users over the past week.