Avantis (AVNT) Coils in a Tight Range as Mega Whales Quietly Accumulate

Avantis (AVNT) price is currently trading in a tight range between $0.47 and $0.63, showing mixed market signals despite a recent 4% daily gain. Bearish indicators include an 8.26% drop in Total Value Locked (TVL) over ten days and a 17.19% reduction in holdings by smaller whales, alongside a softening On-Balance Volume (OBV) trendline.

Conversely, bullish signs are emerging from the largest holders, or mega whales, who increased their balances by 0.67% this week, accumulating roughly 6.6 million AVNT, potentially influenced by its recent listing on Robinhood. Furthermore, exchange balances have dropped 9.57%, suggesting retail accumulation, and the Relative Strength Index (RSI) shows a bullish divergence, indicating waning downtrend momentum.

Overall, while the market is coiled for a sharp move, the accumulation by mega whales and the bullish divergence suggest that bulls currently hold a slight advantage, with key resistance at $0.72 and support at $0.47.

(Source：BeInCrypto)