Avalon (AVL) Downtrend Insights
Avalon (AVL) is experiencing a downtrend as whale activity reveals bearish signals. Recently, crypto analyst Data Nerd reported significant actions involving AVL tokens.
> 7 hours ago, an early investor / team of #Avalon deposited 3.5M $AVL (~$1.58M) into #Bybit
>
> Just now, this wallet still owns 6M $AVL (~$2.55M)
>
> Address: https://t.co/18Qnx8y41Y pic.twitter.com/34vTyRNaV2
> — The Data Nerd (@OnchainDataNerd) March 18, 2025
Whale Moves 3.5 Million AVL Tokens
Today, the whale, likely an early investor or Avalon Labs team, transferred 3.5 million AVL tokens valued at $1.58 million to Bybit. The whale now retains 6 million AVL worth $2.55 million in their hot wallet.
This large transfer has attracted attention from crypto enthusiasts, as moving funds to an exchange often indicates selling intentions, which could affect AVL prices.
Avalon Price Updates
Avalon is currently under downward pressure after a recent uptrend. Onchain data reveals that AVL is a new cryptocurrency launched about a month ago. Initially, the asset performed well due to its highly anticipated launch and subsequent listing on Bybit on February 11. This listing expanded AVL’s reach and triggered rapid upward momentum, resulting in a 45.2% price increase over the past month and 24.3% over the past two weeks.
However, Avalon has experienced downturns in the past week, with selling pressure surpassing buying activity. The price has decreased by 20.6% over the last week, currently trading at $0.4173, down 3.2% from yesterday. Additionally, trading volume has dropped by 20.60%, reflecting reduced market activity, a common occurrence during weak price trends, suggesting a bearish market sentiment. This downward pressure indicates that early adopters, particularly whales, are liquidating their positions to secure profits.
Technical analysis, however, indicates that the asset is entering a corrective trend and attempts to hold above the critical support level of $0.38241. This level may see increased buying pressure, although selling resistance persists. If AVL can stay above this support, it could stabilize and prevent further declines. Given the ongoing recovery in the overall crypto market, Avalon may see renewed bullish sentiment, encouraging long-term holders to accumulate the asset for potential growth. Currently, Avalon ranks 433rd among cryptocurrencies, with a market capitalization of $66.42 million at press time.
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