Avalanche Whale Bets $17M Long as Sentiment Turns Bullish

The broader cryptocurrency market is currently navigating a distinct bearish phase, with investor confidence waning and major assets like Bitcoin (BTC) trending downwards. This sentiment has pulled altcoins like Avalanche (AVAX) down with it; at the time of writing, AVAX is trading at $29.78, reflecting a 14.26% decline over 24 hours and a 10.51% drop over the past week. Its market capitalization has correspondingly decreased by 14.24% to $12.57 billion. However, this surface-level weakness is being aggressively contested by large-scale investors, or ‘whales,’ who are betting big on a reversal.

As highlighted by crypto analyst Cipher X, a single major trader has placed a highly confident 5x long position on AVAX worth $17 million. This bet is not merely speculative; it has already generated paper profits of nearly $1 million, serving as immediate validation of the whale’s thesis. The scale and leverage of this position underscore a deep-seated confidence that extends beyond short-term price fluctuations, pointing instead to a strong belief in the underlying fundamentals of the Avalanche network. This optimism is further amplified by another analyst’s reported $2.2 million 10x long, indicating that leveraged bullish interest in AVAX is building momentum.

Beyond whale activity, technical analysis is providing a clear roadmap for AVAX’s potential recovery and ascent. Analyst Rose Premium Signals has pointed out that Avalanche has successfully closed a breakout above key resistance levels, a technical event that signifies strong underlying bullish momentum and reduces the risk of a false rally. This breakthrough is a critical development, suggesting that the recent price decline may be a temporary correction within a larger upward trend rather than the start of a sustained downturn.

With the breakout confirmed, chart technicians have established a series of precise upside targets. The next significant resistance levels are identified at $43.14, $50.78, and $58.03. For these targets to remain viable, AVAX must maintain its position above the recent breakout point. The current technical setup, combined with the accumulating leveraged long positions, creates a compelling case for a continuation move that could see AVAX reclaim its status as a leading performer in the current market cycle.

The bullish case for Avalanche is powerfully reinforced by its community. In a recent sentiment poll cited by CoinMarketCap, an overwhelming 85% of over 824,000 voters expressed belief that the price of AVAX will continue to rise. This lopsided result indicates exceptionally high investor confidence and a collective expectation of appreciation, creating a positive feedback loop that can itself contribute to upward price momentum.

In contrast, only 15% of voters anticipated a price decline, a minority view that currently holds little sway over the dominant market narrative. This robust community backing, when paired with significant whale accumulation and positive technical indicators, paints a picture of an asset poised for a potential upswing. While the shadow of the broader crypto market’s bearish sentiment remains, the specific dynamics surrounding Avalanche—including rising ecosystem activity and strategic leveraged bets—suggest it may be preparing to decouple and stage a significant breakout toward its identified price targets.