{"id":636670,"date":"2024-08-21T00:30:18","date_gmt":"2024-08-21T00:30:18","guid":{"rendered":"https:\/\/www.uniquehot.com\/?p=636670"},"modified":"2024-08-20T14:49:59","modified_gmt":"2024-08-20T14:49:59","slug":"avalanche-avax-consolidation-continues-as-funding-rate-signals-possible-market-shift","status":"publish","type":"post","link":"https:\/\/www.uniquehot.com\/news\/avalanche\/avalanche-avax-consolidation-continues-as-funding-rate-signals-possible-market-shift\/","title":{"rendered":"Avalanche (AVAX) Consolidation Continues As Funding Rate Signals Possible Market Shift"},"content":{"rendered":"

Avalanche (AVAX) has needed help recovering its losses in this volatile crypto market. Compared to other Layer-1 (L1) blockchains, AVAX consolidation could have been faster, raising concerns about its future performance.<\/p>\n

Related Reading: Avalanche (AVAX) Continues Freefall, Sheds 12% In Last 7 Days \u2013 Can It Recover?<\/span><\/a><\/div>\n

\n<\/span>Despite this uncertainty, recent price action shows AVAX consolidation above the $19.80 support, trading at $22.11 when writing and creating a positive sentiment among bulls. The Avalanche funding rate has turned positive for the first time since late July, and some analysts are even anticipating a potential reversal in Avalanche\u2019s fortunes.<\/span><\/div>\n

AVAX Funding Rate Turns Positive<\/span><\/h2>\n

According to <\/span>Coinglass data<\/span><\/a>, AVAX\u2019s funding rate has flipped to positive territory, signaling a potential change in market dynamics.<\/span><\/p>\n

\"AVAX
Avalanche Funding Rate. | Source: Coinglass<\/a><\/figcaption><\/figure>\n

A positive funding rate in futures trading typically indicates increased demand for long positions, as traders are willing to pay a premium to hold them. This bullish pressure suggests that more traders are betting on AVAX’s price rising rather than falling, a notable shift from the bearish sentiment that has dominated the market in recent weeks.<\/span><\/p>\n

The current positive funding rate for AVAX indicates that bullish sentiment is gaining momentum, which could foreshadow a breakout if bulls successfully push the price above the crucial $23 level.<\/span><\/p>\n

October 2023 Vs. August 2024: Avalanche AT A Turning Point?<\/span><\/h2>\n

Buyers hope a breakout above $22.79 will change the weekly bearish structure, and some investors are looking back to October 2023 for similarities.\u00a0<\/span><\/p>\n

Analysts like Daghan on X anticipate a reversal and have\u00a0<\/span>compared<\/a><\/span> the current market conditions and those in October 2023, just before Avalanche’s price skyrocketed from $8 to this year’s peak of $65 by March 18th.\u00a0<\/span><\/p>\n

\"AVAX\/USDT
AVAX change of structure in October 2023. | Source: Daghan on X<\/a> AVAX\/USDT chart on TradingView<\/a><\/figcaption><\/figure>\n

In his comparison, Daghan explains the intensity of AVAX\u2019s uptrends after long and deep corrections, showing how fast its price moves after it shifts from bearish to bullish.<\/span><\/p>\n

\"AVAX\/USDT
Avalanche aggressive breakout after changing trends in October 2023. | Source: Daghan on X<\/a> AVAX\/USDT chart on TradingView<\/a><\/figcaption><\/figure>\n

Currently, Avalanche is trading at $22.11 and must break above this key resistance level to challenge the supply zone around $22.79 and establish a new higher high. If bulls can reclaim the $23 level, it could signal a broader market recovery for AVAX. However, if the market fails to hold above the August 5 low at $19.53, there is a risk of a downside move, potentially retesting demand below $17.50, with the next bearish target at $15.<\/span><\/p>\n

\"Avalanche
AVAX consolidation range. | Source: AVAX\/USDT chart on TradingView<\/a><\/figcaption><\/figure>\n

As the funding rate signals a possible shift in market sentiment, the coming days will be critical in determining whether AVAX can break free from its current consolidation and resume its upward trajectory.<\/span><\/p>\n

Cover image from Unsplash, chart from Tradingview<\/p>\n","protected":false},"excerpt":{"rendered":"

Avalanche (AVAX) has needed help recovering its losses in this volatile crypto market. Compared to other Layer-1 (L1) blockchains, AVAX consolidation could have been faster, raising concerns about its future performance. Related Reading: Avalanche (AVAX) Continues Freefall, Sheds 12% In Last 7 Days \u2013 Can It Recover? Despite this uncertainty, recent price action shows AVAX consolidation above the $19.80 support, trading at $22.11 when writing and creating a positive sentiment among bulls. The Avalanche funding rate has turned positive for the first time since late July, and some analysts are even anticipating a potential reversal in Avalanche\u2019s fortunes. AVAX Funding Rate Turns Positive According to Coinglass data, AVAX\u2019s funding rate has flipped to positive territory, signaling a potential change in market dynamics. A positive funding rate in futures trading typically indicates increased demand for long positions, as traders are willing to pay a premium to hold them. This bullish pressure suggests that more traders are betting on AVAX’s price rising rather than falling, a notable shift from the bearish sentiment that has dominated the market in recent weeks. The current positive funding rate for AVAX indicates that bullish sentiment is gaining momentum, which could foreshadow a breakout if bulls successfully push the price above the crucial $23 level. October 2023 Vs. August 2024: Avalanche AT A Turning Point? Buyers hope a breakout above $22.79 will change the weekly bearish structure, and some investors are looking back to October 2023 for similarities.\u00a0 Analysts like Daghan on X anticipate a reversal and have\u00a0compared the current market conditions and those in October 2023, just before Avalanche’s price skyrocketed from $8 to this year’s peak of $65 by March 18th.\u00a0 In his comparison, Daghan explains the intensity of AVAX\u2019s uptrends after long and deep corrections, showing how fast its price moves after it shifts from bearish to bullish. Currently, Avalanche is trading at $22.11 and must break above this key resistance level to challenge the supply zone around $22.79 and establish a new higher high. If bulls can reclaim the $23 level, it could signal a broader market recovery for AVAX. However, if the market fails to hold above the August 5 low at $19.53, there is a risk of a downside move, potentially retesting demand below $17.50, with the next bearish target at $15. As the funding rate signals a possible shift in market sentiment, the coming days will be critical in determining whether AVAX can break free from its current consolidation and resume its upward trajectory. Cover image from Unsplash, chart from Tradingview<\/p>\n","protected":false},"author":617,"featured_media":575359,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85951],"tags":[136,92929,142,9885,83347,83609,12449],"class_list":["post-636670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-avalanche","tag-altcoin-market","tag-altcoin-sector","tag-altcoins","tag-avalanche","tag-avax","tag-avaxusdt","tag-crypto-trading"],"acf":[],"yoast_head":"\nAvalanche (AVAX) Consolidation Continues As Funding Rate Signals Possible Market Shift<\/title>\n<meta name=\"description\" content=\"The Avalanche (AVAX) recent price action and a positive funding rate suggest potential bullish momentum, offering hope for AVAX's future.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies. To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian's goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape. To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology. Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance. Sebastian's journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.","sameAs":["https:\/\/x.com\/thesebasv"],"url":"https:\/\/www.uniquehot.com\/author\/sebastianvr\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Avalanche (AVAX) Consolidation Continues As Funding Rate Signals Possible Market Shift","url":"http:\/\/www.uniquehot.com\/news\/avalanche\/avalanche-avax-consolidation-continues-as-funding-rate-signals-possible-market-shift\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.uniquehot.com\/news\/avalanche\/avalanche-avax-consolidation-continues-as-funding-rate-signals-possible-market-shift\/"},"thumbnailUrl":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2024\/02\/Picture20_123574.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2024\/02\/Picture20_123574.jpg?fit=604%2C316"},"articleSection":"Avalanche","author":[{"@type":"Person","name":"Sebastian Villafuerte"}],"creator":["Sebastian Villafuerte"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin market","altcoin sector","altcoins","avalanche","avax","avaxusdt","crypto trading"],"dateCreated":"2024-08-21T00:30:18Z","datePublished":"2024-08-21T00:30:18Z","dateModified":"2024-08-21T00:30:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Avalanche (AVAX) Consolidation Continues As Funding Rate Signals Possible Market Shift\",\"url\":\"http:\\\/\\\/www.uniquehot.com\\\/news\\\/avalanche\\\/avalanche-avax-consolidation-continues-as-funding-rate-signals-possible-market-shift\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.uniquehot.com\\\/news\\\/avalanche\\\/avalanche-avax-consolidation-continues-as-funding-rate-signals-possible-market-shift\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Picture20_123574.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Picture20_123574.jpg?fit=604%2C316\"},\"articleSection\":\"Avalanche\",\"author\":[{\"@type\":\"Person\",\"name\":\"Sebastian Villafuerte\"}],\"creator\":[\"Sebastian Villafuerte\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin market\",\"altcoin sector\",\"altcoins\",\"avalanche\",\"avax\",\"avaxusdt\",\"crypto trading\"],\"dateCreated\":\"2024-08-21T00:30:18Z\",\"datePublished\":\"2024-08-21T00:30:18Z\",\"dateModified\":\"2024-08-21T00:30:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2024\/02\/Picture20_123574.jpg?fit=604%2C316","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts\/636670"}],"collection":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/users\/617"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/comments?post=636670"}],"version-history":[{"count":0,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts\/636670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/media\/575359"}],"wp:attachment":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/media?parent=636670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/categories?post=636670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/tags?post=636670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}