AVAX drop 2.3% to $9.05 as sellers dey test di key $9 support
AVAX dey under renewed sell pressure, down 2.3% for 24 hours to about $9.05, dey trade near daily low and still no fit reclaim $9.30. The main question for traders na whether AVAX fit hold the $9 support; if e close under $9 e go weak the near-term structure and point to the next major support zone around $3–$4.50. For upside, resistance dey $9.30 first, then $9.70–$10, and e go give early reversal signal if AVAX break above $10.
On-chain and fundamentals mixed. Avalanche fee efficiency reportedly hit record: 96.8% of transactions last week pay less than 0.0001 AVAX, wey dey reinforce the low-cost story. Meanwhile, AVAX One double their holdings to about 14 million AVAX and generate roughly $2.5 million revenue from AI and high-performance data center operations, fit support longer-term sentiment. Overall, market focus remain on AVAX to defend the $9 floor versus breakdown to $3–$4.50.
Bearish
Di latest update dey price-negative for AVAX: e dey fall again and e still dey stuck under $9.30, with price action near daily lows. Dis one dey increase chances say any bounce go fail and make the $9 floor the immediate trigger. If AVAX close under $9, the bearish case go strong pass because analysts dey point to much lower next support band at $3–$4.50.
But fundamentals fit only provide small support. The record-high low transaction fees (96.8% of trades below 0.0001 AVAX) dey support the network usage story, and AVAX One’s expanded holdings and revenue potential fit help longer-term sentiment. Still, near-term trading momentum dey driven mainly by whether AVAX fit reclaim $9.30 and challenge $9.70–$10; until that happen, the short-term setup remain more bearish than neutral for AVAX itself.