The price of Avantis (AVNT) is trading in a tight range, up 4% today but still down 18% for the month. Market data shows a sharp divide. Significant AVNT whale accumulation is occurring, while medium-sized holders have been selling. The asset was recently listed on Robinhood.
The data shows bearish pressures. The project’s total value locked (TVL) fell 8.26% in the last ten days, settling at $109.55 million. This raised doubts for some holders. Mid-sized “whales” reduced their holdings by 17.19% in the last week. Furthermore, the On-Balance Volume (OBV) indicator is testing its rising trendline.
Can the “mega whales” accumulation drive the price?
On the other hand, the bullish side is stronger. “Mega whales” (the largest holders) increased their balances by 6.6 million AVNT, valued at $3.3 million. This purchase significantly outweighs the minor selling. The recent Robinhood listing seems to motivate this position. Likewise, balances on exchanges fell 9.57%, suggesting investors are moving their cryptocurrencies to private wallets.
The technical analysis also shows a standard bullish divergence. The price made a lower low, but the RSI made a higher low. This usually indicates the monthly downtrend is losing momentum. The price is currently at $0.51.
Avantis (AVNT) is defining itself between the $0.47 support and the $0.63 resistance. A daily close above $0.72 would confirm bullish strength. However, a break of the $0.47 support would expose AVNT to new lows. The AVNT whale accumulation is the strongest signal, but the market awaits the breakout.
