AVAX Coin Holds Strong at $22 as Bitcoin Price Stabilizes - Latest cryptocurrency news

AVAX Coin Holds Strong at $22 as Bitcoin Price Stabilizes

As the BTC price holds at $38,500 on December 2nd, AVAX Coin continues to find buyers at $22. Due to the weekend, trading volume decreased by 26% to $390 million. However, maintaining the $20 level is a positive sign for bullish predictions in December.

Google searches for AVAX Coin dropped to levels seen in early November and started to recover from there. Despite increased interest due to announcements by JP Morgan and others, there is currently a slight pullback in price. The weakening of last week’s increased interest can be considered normal.

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Although daily active addresses reached August highs on November 23rd, they have returned to October and November averages. This indicates a rapid increase and then decrease in interest. However, the recovery in addresses with balances larger than zero is promising. A 30% recovery in active addresses can support price growth.

In mid-last month, the total number of addresses exceeded 6 million. The Binance incident between November 20th and 22nd dominated the news and saw an increase in whale transfers during this period. There may be those who want to profit from a possible downturn.

Buyers showed that there is demand at higher levels by trying to keep Avalanche above $22 on December 1st. Although the volume is currently low, the ability of the price to hold in a critical zone can be considered a positive development.

If bulls can hold the price above $22, the target of $24.69 may come back into play. This area is an important resistance level and breaking through this tough resistance is necessary for an impressive rally. If the resistance can be broken, there may not be a significant selling wall up to $28.5. However, Bitcoin’s performance will be decisive.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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