#multiyeardowntrend
multiyeardowntrend
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Avalanche saw volume climb 25% to $248.87 million on February 20, with price testing $9.25—right at the descending trendline formed after the October 10 crash. That violent selloff marked the start of a prolonged grind lower, with resistance repeatedly rejecting every recovery attempt.
The daily chart shows a bullish MACD crossover, and the histogram turned slightly positive. But the weekly timeframe tells a different story: RSI sits at 31.78, below its moving average. MACD remains below zero with a negative histogram. The multi-year downtrend that's been in place since 2021 still acts as macro resistance.
Meanwhile, the network is thriving. RWA TVL hit $1.3 billion (up 949% YoY), active addresses reached 1.57 million (+273% MoM), and VanEck's $AVAX ETF attracted $3.73 million in inflows despite the 84% crash from October's peak. Usage is surging. Price isn't following.
#Avalanche #AVAX✈️ #RWA #MultiYearDowntrend #NetworkActivity
The daily chart shows a bullish MACD crossover, and the histogram turned slightly positive. But the weekly timeframe tells a different story: RSI sits at 31.78, below its moving average. MACD remains below zero with a negative histogram. The multi-year downtrend that's been in place since 2021 still acts as macro resistance.
Meanwhile, the network is thriving. RWA TVL hit $1.3 billion (up 949% YoY), active addresses reached 1.57 million (+273% MoM), and VanEck's $AVAX ETF attracted $3.73 million in inflows despite the 84% crash from October's peak. Usage is surging. Price isn't following.
#Avalanche #AVAX✈️ #RWA #MultiYearDowntrend #NetworkActivity
The collapse movement saw an increase in volume by 25% to reach $248.87 million on February 20, with the price testing at $9.25—right at the descending trend line formed after the collapse on October 10. Those aggressive sales marked the beginning of a long-term decline, as resistance repeatedly rejected every recovery attempt.
The daily chart shows a bullish MACD crossover, and the histogram has turned slightly positive. However, the weekly timeframe tells a different story: the Relative Strength Index (RSI) is at 31.78, below its moving average. The MACD is still below zero with a negative histogram. The downward trend that has been ongoing since 2021 continues to act as major resistance.
Meanwhile, the network is thriving. The total locked value (RWA TVL) reached $1.3 billion (a 949% year-over-year increase), and active addresses hit 1.57 million (+273% month-over-month), with the VanEck ETF attracting $AVAX
$3.73 million in inflows despite the 84% collapse from October's peak. Usage is increasing. The price does not follow.
#Avalanche #AVAX✈️ #RWA #MultiYearDowntrend #NetworkActivity
The daily chart shows a bullish MACD crossover, and the histogram has turned slightly positive. However, the weekly timeframe tells a different story: the Relative Strength Index (RSI) is at 31.78, below its moving average. The MACD is still below zero with a negative histogram. The downward trend that has been ongoing since 2021 continues to act as major resistance.
Meanwhile, the network is thriving. The total locked value (RWA TVL) reached $1.3 billion (a 949% year-over-year increase), and active addresses hit 1.57 million (+273% month-over-month), with the VanEck ETF attracting $AVAX
$3.73 million in inflows despite the 84% collapse from October's peak. Usage is increasing. The price does not follow.
#Avalanche #AVAX✈️ #RWA #MultiYearDowntrend #NetworkActivity
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