AVAX Alert: Whales are leaving, the battle for the 17 dollar defense line is on!
Whales are leaving, an avalanche is coming!
News: Triple negative pressure looming.
Whales collectively fleeing: On-chain data shows that large transactions over one million dollars have plummeted by 95%, institutional funds are accelerating their withdrawal. Transactions worth tens of millions of dollars are nearly zero, and market support is about to collapse.
Ecosystem cools: Avalanche's on-chain TVL peaked at 12 billion shrinking to 1.66 billion, network revenue plummeted by 99%. Although stablecoin scale increased by 70%, funds are trapped in cross-chain bridges and have not flowed into ecological protocols, forming a 'false prosperity'.
Macro Black Swan: Escalation of Middle Eastern conflicts + continuing high inflation in the US, risk assets are being sold off, BTC's decline drags down AVAX. Regulatory-wise, the SEC's stance on AVAX spot ETF is ambiguous, making it difficult to receive institutional support in the short term.
Technical Aspect: Death cross probing the bottom, bearish shadow looms.
K-line Trend: The 4-hour chart shows a 'slide-like decline', plummeting from 22.771 to 17.767, with continuous lower lows and weak rebound.
Bollinger Bands: All three lines are falling, price is tightly hugging the lower line, oversold but no reversal signal.
MACD Death Cross: Both lines are deeply below the zero axis, DIF crosses below DEA, red bars extend, bearish momentum has not weakened.
Key Position:
Support: 17.17 critical line, breaking may slide to 15.503.
Resistance: 19.50-20.00 'Supply Explosion Zone' with a pile of trapped orders, rebound pressure is huge.
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