Avantis [AVNT], a prominent player in the decentralized exchange (DEX) arena, has recently captured significant market attention with an impressive price resurgence. Defying broader market trends, the AVNT token has embarked on a remarkable rally, showcasing a more than 22% increase in just 24 hours, extending its weekly gains to a substantial 62%. This notable upturn signals a potential shift in momentum for the altcoin, drawing interest from investors and analysts alike.
Market Structure Flip and Price Momentum
On the technical front, Avantis has decisively broken free from a month-long bearish structure that began after late October. The AVNT token's price successfully breached both descending resistance and the 50-day Simple Moving Average (SMA), indicating a significant change in market direction. This technical breakout was further corroborated by a bullish reading on the Relative Strength Index (RSI). Since December 19, AVNT has consistently formed higher highs and higher lows, reinforcing its newfound bullish trajectory. While currently encountering some resistance around the $0.40 mark, a level previously serving as an accumulation zone, a clear break above it could pave the way for a climb towards $0.60 or higher, though a fall below the moving average would challenge this optimistic outlook.
Bolstered by Network and Participant Growth
Beyond technical indicators, Avantis's rally is strongly supported by a surge in fundamental network activity and growing participant engagement. Data reveals a weekly high of 3.77 million total trades on Boxing Day, with cumulative volume hitting approximately $56 billion at press time, where longs significantly outweighed shorts. Concurrently, the number of AVNT holders has seen a healthy increase, climbing by over 26,000 in a month to reach 109.8k, suggesting a return of bullish sentiment among traders. The circulating supply has remained stable at around 258.2 million since early October, implying limited supply dynamics, while token turnover for both fully diluted value and circulating supply has also experienced substantial growth. This confluence of rising network activity and increasing holder participation collectively underpins the current robust price appreciation, although broader market volatility could still present challenges for sustained growth.
