Avalanche DeFi TVL reaches $488.5 million as AVAX price stabilizes

Avalanche (AVAX) is experiencing significant activity within its DeFi ecosystem, with the Total Value Locked (TVL) reaching $488.5 million. This increase in liquidity suggests growing network participation across decentralized exchanges, lending protocols, and liquidity pools.

Technically, AVAX is showing a mixed outlook. While some analysts identify a potentially bullish setup with an upside target near $8.41 if resistance levels are broken, others note that the asset is currently in a state of equilibrium. The token is trading near its daily pivot of $7.23, with momentum appearing flat.

Market indicators show that while the intermediate uptrend remains intact by trading above the 50-day and 20-day simple moving averages, the $8.11 level remains a significant resistance point. A daily close below $7.00 could signal a downward trend toward $6.77 or lower.