AVAX’s defense of $35 – Here’s why this price level is so important – BitRss

•  AVAX ($36.80) clung to the $35 support zone as its price action has not been bullish in recent weeks
• On-chain metrics revealed steadily growing activity and potential demand for AVAX

Avalanche [AVAX] has clung to the $35 support zone over the past month. In fact, a recent report noted that liquidation clusters below $34.72 could drag the price south. Based on the technical analysis as well, the $35 support zone seemed to be a must-defend area for the bulls.

Failure here could push the price to $28.5 on the charts.

The correlation matrix from IntoTheBlock revealed that AVAX moved alongside Ethereum [ETH ($3,337.62)]. However, ETH has had a tough time being bullish in recent weeks.

Encouraging development and on-chain activity

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