Avalanche’s TVL reached 270,611,568 AVAX Metrics also favored an optimistic outlook for AVAX After weeks of decline, Avalanche’s [AVAX] total value locked (TVL) finally registered an uptick. This could be considered as an optimistic update for the blockchain. AVAX Daily, a Twitter handle that posts updates regarding the Avalanche blockchain, posted its weekly stats on […]
Interestingly, a few on-chain metrics revealed the possibility of a continued price surge, which might excite investors.revealed that AVAX’s Relative Strength Index and stochastic were both in oversold positions. This could be considered as a massive bullish signal, and an indication that a price surge may occur in the days to follow. Santiment’s charts also looked quite favorable.
AVAX’s development activity increased in the last week, which was a positive sign. A surge in the development activity represented the efforts of developers towards improving the network. AVAX also gained interest from the derivatives market, as its Binance funding rate registered an uptick.’s price, the market indicators told a different story. The Exponential Moving Average Ribbon revealed that the bears had the upper hand in the market. This could bring trouble in terms of a price hike.
Another bearish signal was the Chaikin Money Flow , which was well below the neutral level. Nonetheless, the Money Flow Index was hovering right near the oversold zone, giving investors hope for better days ahead.Subscribe to get it daily in your inbox.
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