Derived from BitJie, large AVAX holders and leveraged traders are showing increased confidence in the token. Whale address 0xb2ca opened a 5x long position of 514,906 AVAX (worth $17.2 million) on September 23, generating $920,000 in unrealized profits. @cryptogle of World Liberty Finance also entered a 10x long position of 66,479 AVAX ($2.2 million). Open interest remains above $1 billion, and average funding rates are stable at 0.0097, indicating a bullish bias but not overheating. However, AVAX is currently trading near $34.45 with an RSI of 71.37, signaling overbought conditions. If AVAX fails to break above $35, a pullback may follow.
Whales and Leverage Traders Boost AVAX Amid Mixed Technical Signals
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