唐华斑竹 Analyzes AVAX Trends Amid Market Sentiment Decline

According to Twitter user 唐华斑竹, the price of AVAX has fallen below the short-term support level of 9.10, reaching a low of 8.854, and is currently fluctuating around 9.055. Despite Avalanche's strong fundamentals, with on-chain daily trading volume hitting a yearly high and active addresses exceeding 500,000, the price has not reflected these positive factors. A report from Charles Schwab highlights Avalanche's leading position in the institutional blockchain and RWA sectors, but there are still doubts about the conversion of demand for AVAX tokens. The macroeconomic environment faces challenges, with the Federal Reserve likely not lowering interest rates in October, leading funds to flow towards mainstream cryptocurrencies like Bitcoin and Ethereum, causing AVAX to be overlooked. Investors are advised to proceed with caution and avoid going against the trend.

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