Avalanche (AVAX) cryptocurrency has attracted large investors and shows significant price movement.
Price Increase and Major Investor Activity
In the past week, AVAX's price has increased by about 10% and is currently around $19.65. In the last 24 hours, it has risen by 7%. The cryptocurrency stands out due to the activity of large investors, known as "whales," who have purchased 4.7 million AVAX, valued at approximately $90 million.
Investments and Large Companies' Trust
VanEck has introduced an AVAX-centric exchange-traded fund (ETF), potentially attracting institutional investors and facilitating mass adoption. Furthermore, World Liberty Finance has purchased $2 million in AVAX, reflecting confidence in the cryptocurrency's long-term future.
Technical Indicators and Price Movement Forecast
Major indicators suggest possible continued upside in AVAX. Technical signals such as the MACD and Chaikin Money Flow indicate positive momentum. With current strong buying pressure, AVAX could reach $25, and if momentum builds further, $30. However, if selling pressure strengthens, AVAX could dip to $15.40 instead.
Large investor activity and positive technical signals suggest further price increases for AVAX.
