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2026-07-31 10:17 UTC → 2026-08-08 06:07 UTC ·
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AVAX price holds near $6‑7, support tested amid rising user activity growth
After a Since the late‑July dip rally that broke the $6.50 support level, lifted AVAX rebounded back into the next day, rallying about 8 $6.45‑$6.55 range, the token has continued to oscillate around the $6‑$7 band while the Avalanche ecosystem expands. In mid‑May, AVAX slipped 4 % to $6.74 and sparking about $9.73, testing a short‑squeeze narrative new $10 support level before rebounding on social media. The surge coincided a breakout pattern. June saw a pronounced downtrend, with the price falling to a bullish technical breakout—RSI climbing toward 70, MACD turning positive yearly low of $6.22 and volume jumping 59 technical indicators pointing lower. The same month, Avalanche Treasury debuted on Nasdaq (ticker AVAT), its stock tumbling 38 % while AVAX modestly rose to $377 million—and $6.66, underscoring the release network’s growing institutional footprint. A whale withdrew roughly $1.5 million of a Deloitte–Avalanche stable‑coin implementation guide for banks. The token now trades around $6.45‑$6.55, AVAX on Bybit in late June, coinciding with 24‑hour volume near $200‑$233 a modest rally to $6.17 after the network announced a FIFA 2026 ticket‑ing partnership. Early July, tokenized real‑world assets on Avalanche surpassed $700 million and the Payments Collective was launched to streamline cross‑border transfers, pushing AVAX toward $7.00 resistance. The token then faced mixed pressure: a market cap short‑term squeeze after a Grayscale endorsement lifted it 5.6 % on July 9, while Bitwise’s removal of roughly $2.78‑$2.83 billion. Analysts note that AVAX is testing from its flagship ETF on July 11 dampened sentiment. July 14 data showed a historically significant long‑term 60 % jump in on‑chain real‑world asset value to $2.1 billion, reinforcing demand zone for AVAX gas and staking. A brief dip below $6.50 on the monthly chart; holding this support could allow price to rise toward higher targets, while July 24 was followed by a breach may reignite bearish pressure. On‑chain data from MSB Intel shows technical breakout on July 25, when AVAX surged 8 % to $6.74 alongside Deloitte’s stable‑coin implementation guide. By July 29, AVAX held critical support at $6.55 as daily active addresses rose about 30 % over the past week to roughly 119,600 users, indicating growing wallet adoption and interaction with Avalanche dApps. Crypto analysts cite a macro breakout‑and‑retest pattern previously seen in 2020, 2021 and 2024, projecting upside scenarios ranging from $15 to $150 if the pattern holds, though a drop below $3 would undermine ~119,600, echoing the bullish setup. earlier user‑activity surge. The current accumulation zone is viewed near $4‑$6. Ecosystem activity continues with August 8 launch of the Team1 Accelerator Committee granting $30,000 to YourGrails, Avalanche Payments Collective renewed focus on a platform that tokenizes graded physical trading cards $7 price target, keeping the token’s near‑term outlook centered on Avalanche, underscoring ongoing development of real‑world‑asset use cases. support retention and ecosystem adoption.