AVAX Price Rallies 7% Intraday What’s Driving the Bullish Sentiment?

• StableJack empowers users as AVAX coin leads in social activity among top RWA projects.
• AVAX price surged more than 7%, eyeing to reach the $50 mark.

Avalanche (AVAX) crypto has bounced off from the 200 day EMA mark and is making waves in the crypto market.

At press time, AVAX price was trading at $35.90, noting a rise over 7.20% in the past 24 hours. Its market cap surged to $14.75 Billion, ranked 11th in the overall crypto market.

Is AVAX Crypto Gearing Up for a Big Move?

A recent tweet by CW highlighted that AVAX price has rebounded from the lower line of the falling wedge pattern. The recent volatile swings led to high leverage positions being liquidated.

With a surge in Open Interest (OI) of over 10.95% to $610.90 Million and a volume rise of over 57%, AVAX crypto seemed ready for a sharp rally. Per the price pattern, an upsurge toward $40 can be anticipated. Once it escapes out of this pattern, it could reach $50 soon.

StableJack’s Impact on AVAX Users

StableJack provided leveraged positions to AVAX and stablecoins acting as safe-haven during the bearish market conditions. Thus, as of January 2025, 4.4M $xAVAX was minted, representing high user trust.

The burned supply reached 4.78 Million, which can be interpreted as rather balanced flowing of liquidity. However, AVAX has a total value locked (TVL) of $1.417 Billion.

USD issuance increased gradually, with 2.2 Million tokens created by more than 2700 users, earning up to 21% APR.

Rebalance Pool provided stability and attracted users who aimed to receive profit without facing liquidation. Daily minting patterns suggested sustained adoption despite market volatility.

On-chain usage presented a steady adoption of AVAX coin across the destinations and enhanced user confidence. Thus, StableJack’s operations could sustain demand throughout a turbulent market.

Social Activity Spotlight: Leading RWA Projects

Avalanche stood as the second best performing Real World Asset (RWA) project with 8.1k engaged posts and 1.9Million interactions, indicating community growth.

Chainlink again featured on the top, captured 9.9k posts and 2.3M interactions, witnessing heightened social activity.

ONDO and INJ followed equally, each recording 5.3K engaged posts, with ONDO achieving 1.1M interactions and INJ at 1.2M. ICP and VET saw moderate activity, reporting 3.6K and 3.5K posts, respectively, with interactions at 787.6K and 600.6K.

BKN displayed the lowest activity, posting 2.4K posts with 125K interactions. A clear pattern emerged, with LINK and AVAX as leading projects, while others showed varied engagement levels.

The trend suggested RWA projects could leverage social interactions to enhance visibility, with smaller projects likely prioritizing community growth.

AVAX Price Analysis: Key Levels to Watch

Per the daily timeframe analysis, AVAX crypto traded inside a falling wedge since the first week of December 2024. It has been forming the lower high and lower low swings. However, the altcoin has taken support on the 61.8% Fib level and rebounded from the 200 day EMA mark.

AVAX crypto has a strong demand zone of $30 which was tested multiple times. A daily close above the $40 mark would complete the 4th retracement wave. Also, it may trigger the 5th rising wave that would target $70 and $90 in the short term.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.