Avalanche TVL Hits 5-Month High of $1.164B Despite Neutral Sentiment on AVAX Price Action

• Avalanche (AVAX) Total Value Locked (TVL) has increased to $1.164 billion, the highest since November 2022, showing growing ecosystem adoption

• AVAX price is trading below 50-day moving average but Relative Strength Index is neutral, suggesting consolidation before a potential uptick

• In/Out of the Money data shows most AVAX holders are profitable at current prices, reducing likelihood of panic selling

• Analysts speculate whether AVAX can reclaim $50 price level with rising TVL often preceding bullish sentiment

• AVAX could see 15% decrease if bear market continues, invalidating bullish outlook around ecosystem growth