- AVAX clung to the $35 support zone as its price action has not been bullish in recent weeks
- On-chain metrics revealed steadily growing activity and potential demand for AVAX
Avalanche [AVAX] has clung to the $35 support zone over the past month. In fact, a recent report noted that liquidation clusters below $34.72 could drag the price south. Based on the technical analysis as well, the $35 support zone seemed to be a must-defend area for the bulls.
Failure here could push the price to $28.5 on the charts.
Source: IntoTheBlock
The correlation matrix from IntoTheBlock revealed that AVAX moved alongside Ethereum [ETH]. However, ETH has had a tough time being bullish in recent weeks.
Encouraging development and on-chain activity
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Author: Akashnath S
