AVNT Rally Faces First Real Test

AVNT, the native token of Avantis, a Real World Assets (RWA) perpetuals DEX, has seen a sharp rally in the past week.

Despite the sharp rally, signs of selling pressure are surfacing. The Elder-Ray Index, which tracks the balance between bullish and bearish forces, has flipped negative. This suggests sellers are gradually gaining control, potentially threatening AVNT’s short-term momentum.

If bearish momentum intensifies, AVNT could fall back below the $1 mark. However, renewed buying demand may flip sentiment bullish once again, opening the path for a rally toward new highs.