AVAX Price Surges Above $10, Whales Predict Run to $11.50

The price of AVAX has made a significant move above the $10 barrier, breaking through a crucial psychological level. According to recent data, institutional adoption is accelerating behind the scenes, driving utility-driven demand for the cryptocurrency.

Whales are taking advantage of this momentum, with 74% of long positions being held by these top traders. Their conviction around the $10 level suggests they're positioning for a move toward the $11.50 resistance zone.

However, retail investors are overleveraging themselves, with 71% of long positions. This creates a risk of a violent correction to $8.50 if the breakout fails, according to Blockchain.news technical analysis.