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Avalanche (AVAX) price drops 2.39% amid broad altcoin weakness, but whale accumulation and RWA growth offer bullish signals.

Technical Signals
16 Aug 2026
Blockonomi
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Neutral
Avalanche (AVAX) price drops 2.39% amid broad altcoin weakness, but whale accumulation and RWA growth offer bullish signals.

Avalanche (AVAX) price fell 2.39% to $6.34 as most altcoins weakened, making AVAX one of the poorest performers despite a flat overall crypto market. The decline lacks a specific catalyst and reflects broad market risk-off sentiment. However, whale accumulation, including a large withdrawal of 887,000 AVAX from Binance, and a 360% surge in Avalanche's Real-World Asset (RWA) transaction volume signal potential underlying strength. AVAX must hold support near $6.25 to sustain a rebound toward $6.46, with a confirmed breakout possibly targeting $7.20. Failure to hold support could extend the downtrend toward yearly lows, while continued whale buying and network activity provide counterbalance to selling pressure.

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