Avalanche Pullback After Massive Rally — Watch Support and Token Unlock Risk
I see AVAX sliding about 3.95% to $23.59 after an extraordinary 468% weekly rally that was driven by institutional adoption and network upgrades. The pullback appears linked to a token unlock and is testing key support levels.
I remain cautious: a rapid run-up often triggers short-term profit-taking and volatility around unlocks. I'll watch on-chain flows, volume, and whether the support holds before changing my view.
Analysis
Recommendation
I recommend watching price action and on-chain metrics closely; avoid initiating new long positions until support is confirmed or consider buying on weakness after clear signs of absorption.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.