AVAX gained 3.01% over the past 24 hours to trade at $6.72. Trading volume during the same period reached $234.9 million, and market capitalization stood at $2.9 billion. The move lifted price off recent lows, yet technical readings still stop short of confirming a clear directional shift.
Price Tests a Long-Term Descending Support Line
Analyst Aman says AVAX is revisiting a multi-year descending support trendline, placing the token at a critical level. In his view, holding this area could revive buying interest and reopen the case for a broader recovery. He added that if support remains intact, a stronger rebound toward the $30 to $40 range becomes more plausible.
That setup is not confirmed by momentum data. The current RSI still points to limited buying pressure, leaving the market without a firm reversal signal. If AVAX drops below the support zone, downside risk could remain in place and extend the existing bearish structure.
Q2 On-Chain Activity Sets a Network Record
On-chain data shows a separate source of strength. According to MSB Intel, Avalanche recorded 144.98 million active sender addresses in Q2 2026, the highest quarterly figure in the network’s history. An active sender address tracks a wallet that initiates transfers during a given period, so the metric is used to measure actual network usage rather than passive holding.
The increase suggests expanding participation across the chain. The report links that trend to rising activity tied to Avalanche-based DeFi applications, gaming, and NFT projects. Network usage is growing. Price, however, has not yet produced an equally decisive bullish confirmation.
Bitcoin’s Partial Recovery Supports Short-Term Demand
Part of AVAX’s latest move may also reflect broader market conditions. The article notes that Bitcoin’s partial recovery has helped sustain short-term demand across major altcoins, including AVAX. For now, market attention remains split between two indicators: whether key support continues to hold, and whether on-chain activity can stay elevated.
That leaves AVAX at a junction where technical structure and network growth are both in focus. A stable hold at current levels would strengthen the bullish case described in the report. A break lower would put renewed selling pressure back on the table.