Avalanche network activity remains strong: Can AVAX hold $7.10 support?
AVAX is approaching key support at $7.10 as the external backdrop for risk assets deteriorates. At the same time, on-chain activity across Avalanche remains relatively strong, limiting the fundamental pressure on the token for now.
According to the latest DeFiLlama data, Avalanche TVL stands at around $473 million, while stablecoin supply on the network remains near $1.38 billion. The RWA segment continues to be one of the strongest parts of the ecosystem, with roughly $851 million in assets.
Weekly DEX volume is around $686 million, while perpetuals volume exceeds $165 million after more than doubling over the past week. The network also processed more than 3 million transactions over the past 24 hours.
However, the increase in activity is still having a limited direct impact on AVAX itself, with network fees remaining at only a few thousand dollars per day. This leaves a gap between usage of the Avalanche ecosystem and direct value capture by the token.
Holding $7.10 keeps the $7.40 recovery scenario alive
AVAX is testing crucial support around $7.10. If sellers manage to push the price below this level and establish it there, the probability of a deeper correction toward the 50-day SMA near $6.70 would increase noticeably.
Holding $7.10, by contrast, could support a move toward the short-term descending trend line near $7.40. A decisive break above this level would improve the technical structure and open the way toward the 200-day SMA near $8.12.
A technical rebound alone, however, may not be enough to carry AVAX toward $8.12. Buyers would likely need a stronger fundamental catalyst or an improvement in broader crypto-market sentiment.
Broader crypto market remains the key risk for AVAX
The macroeconomic backdrop remains unfavorable for high-beta assets. Following renewed escalation between the U.S. and Iran, Brent climbed to around $92 per barrel, intensifying concerns about fresh inflationary pressure.
Despite resilient on-chain activity across Avalanche, AVAX remains heavily dependent on the direction of Bitcoin and broader investor appetite for altcoins.
Holding $7.10 therefore keeps the possibility of a recovery toward $7.40 alive, but further deterioration across the broader crypto market could quickly increase selling pressure and bring $6.70 back into focus.
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