Avalanche Price Stalls Near Key Resistance, Transaction Activity Soars

The Avalanche network has seen a significant surge in activity this week, with transaction volume increasing by 66%. Despite this growth, the token’s price struggles to break through the $26.50 resistance level, leading to repeated rejections. Trading data suggests a potential downward trend towards the $16 support level, as evidenced by the formation of a channel pattern. 📈 The analysis indicates that the current price action shows lower highs and may indicate a shift in momentum.