In accordance with TheMarketPeriodical, the Avalanche (AVAX) price has fallen nearly 60% since September 22, reaching $15.25. The token is currently below key technical indicators, including the 50-day and 100-day EMAs, and the PPO remains below the neutral level, signaling continued downward pressure. The price has hit a key support level, and a break below it could push AVAX toward $8.7460. However, a rebound is possible if the support holds, potentially pushing the price toward $26. The network is set to launch the Granite upgrade on November 19, which introduces features like Interchain Messaging Improvement and Dynamic Minimum Block Times. Nansen data shows a 92% increase in network transactions over the last 30 days, and the total value locked in the real-world asset (RWA) tokenization industry has risen by 65% to over $1.1 billion. Additional catalysts include the transformation of AgriForce into AVAX One and potential SEC approval of Avalanche ETFs.
Avalanche Price Drops 60% Amid Upcoming Granite Upgrade and Market Downtrend
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