Avantis (AVNT) Price Recovers 25%, But Are Whales Supporting The Altcoin?

The Avantis (AVNT) token has experienced a significant downtrend, dropping over 60% from its all-time high near $2.66 in September. Although the price bounced over 50% this week, a sustained recovery depends on two main factors: support from large investors (whales) and reclaiming the $1.00 mark.

Analysis of the Chaikin Money Flow (CMF) indicator shows that whale money flow remains weak, staying below zero since late September, indicating a lack of significant accumulation. Conversely, the Bull Bear Power (BBP) indicator has turned green, suggesting partial control by bulls, likely due to Avantis' growing DeFi presence. However, true strength requires CMF to turn positive alongside BBP.

On the 12-hour chart, AVNT is forming a bullish falling wedge pattern, but a hidden bearish divergence between price (lower highs) and the Relative Strength Index (RSI) (higher highs) suggests caution. To confirm a breakout and invalidate this divergence, AVNT must close above $1.00, targeting $1.32 resistance, which could then open the path to $2.66. Failure to hold the $0.57 support could lead to a drop toward $0.46.

(Source：BeInCrypto)