Major leveraged longs worth roughly $19.4M have flowed into Avalanche (AVAX) futures, signaling growing bullish conviction among whales and leveraged traders; however, technicals show AVAX is overbought (RSI ~71) and may stall near $35 without stronger volume or spot buying.
Whales placed >$19M in AVAX futures longs
Open interest remains above $1B while average funding rate is modest (0.0097).
RSI 71.37 and weakening volume point to short-term pullback risk if $35 does not break.
AVAX futures surge: leveraged longs top $19M, but RSI overbought near $35 — monitor volume and spot demand. Read on for data-driven takeaways.
What is driving the recent AVAX futures rally?
A surge in large leveraged positions and sustained open interest has driven the AVAX futures rally. Whales and high-leverage traders opened multi-million-dollar long positions, while aggregated open interest stayed above $1B and funding rates remained modest, indicating bullish bias without extreme overheating.
Which whale trades moved the market?
On 23 September, address 0xb2ca opened a 5x long on 514,906 AVAX (estimated $17.2M), showing sizable exposure and an early unrealized gain of about $920K. Separately, advisor @cryptogle opened a 10x long on 66,479 AVAX (approx. $2.2M). These trades account for the majority of the reported leveraged inflows.
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Big bets light up AVAX Futures
Whale trades have put Avalanche back on the map. Large leverage entries concentrated on the 23rd of September pushed futures positioning markedly higher in a short window.
Data points: 0xb2ca’s 514,906 AVAX 5x long (~$17.2M) and a 10x 66,479 AVAX (~$2.2M) position together represent roughly $19.4M in leveraged long exposure. Source: X (plain text)
How healthy are derivatives indicators for AVAX?
Open interest and funding show constructive positioning. Aggregated OI stayed above $1B with an uptick in leveraged positions since 18 September. Average funding rate at ~0.0097 suggests net-long tilt but not extreme crowding, lowering immediate liquidation risk compared with overheated markets.
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Technical momentum is strong but buyer follow-through is weakening. AVAX traded near $34.45 at press time with an RSI of 71.37, indicating overbought conditions. MACD (2.48) remains above the signal line (2.10), confirming momentum, yet volume trends have softened—raising the chance of a short corrective pullback if $35 resistance fails.
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