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2h ago

AVAX Rally Pauses Near $36 as AVAX One Plan and Whale Longs Drive Volume

Analysts see room toward $48–$50 if a breakout confirms.

Whales are bullish on AVAX, but is the current rally just hype?
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Overview

  • AVAX trades around $34–$35 after a sharp run to the $36 area, outperforming major layer‑1s during a broader market cool‑off.
  • AgriFORCE will rebrand as AVAX One and seeks roughly $500–$550 million to build a Nasdaq‑listed AVAX treasury targeting more than $700 million in tokens, with interest reported from Galaxy Digital and Kraken and advisory ties to Anthony Scaramucci.
  • Lookonchain flagged aggressive whale positioning, including a 5x long on 514,906 AVAX (~$17.2 million) and a 10x long on 66,479 AVAX (~$2.2 million).
  • Liquidity and leverage jumped, with 24‑hour spot volume near $2.62 billion, derivatives open interest around $1.77 billion, and futures volume about $5 billion, per CoinGlass.
  • Technicals show RSI near 70 and resistance clustered at $36–$40, leaving room for a pullback even as bulls map near‑term targets around $48–$50 on a clean break.