Avalanche active addresses jump from 30K to 600K as AVAX price risks slide below $11.3 support

Avalanche's AVAX token has recorded a sharp rise in on-chain activity, with active addresses climbing from 30,000 to over 600,000 within a week while the price trades near $12. Despite this network growth and C-Chain transaction momentum, technical signals such as a weakening MACD, a descending triangle pattern and RSI near its lower range point to a potential breakdown of the $11.3 support that could extend losses toward $8.60. If bullish sentiment returns and key resistance between $18 and $22 is regained, the price could revisit higher levels within the current pattern.