AVAX Price Rebounds as Avalanche's DeFi Ecosystem Hits $483 Million

Avalanche's decentralized finance ecosystem has seen significant growth, with its total value locked (TVL) reaching $483.1 million.

This milestone comes as AVAX price rebounds 1.15% to $7.49 in the last 24 hours, with a 24-hour trading volume of $325.2 million and a market capitalization of $324.6 billion.

According to Crypto With Gopal, AVAX has twice defended the support area between $7.35 and $7.40, indicating sustained demand and resistance to further price declines.

With the price approaching its neckline at $7.53, a break above this level could validate a double bottom reversal, potentially leading to a move toward $7.70 in the short term.