The Avalanche Foundation has confirmed that the Hel token issuance upgrade has been launched on the Fuji testnet. This is the latest development in the network roadmap, and at this stage, it is mainly for developers and validators to test new features. The mainnet launch date has not yet been announced.
Six community proposals have been included in the testing.
The upgrade was driven by six Avalanche Community Proposals (ACPs) approved through community governance. Testnet deployments are typically used to identify issues early and verify network stability before official launch.
The foundation stated that this upgrade continues Avalanche's approach of promoting protocol development through community governance. The Fuji testnet will initially handle the verification of new features, allowing developers and validators to conduct compatibility and stability tests.
AVAX is currently trading in the $6.20 to $7.10 range.
In terms of price, AVAX is currently trading at approximately $6.47, up about 1.33% on the day, but trading volume has slightly decreased by about 7% compared to the previous period. The article indicates that AVAX is still in a narrow consolidation phase and has not yet broken free from the oscillating pattern following its previous correction.
- The current price is approximately $6.46 to $6.47.
- The near-term support zone is between $6.20 and $6.50.
- The upper resistance zone is between $6.90 and $7.10.
The area above $7.10 remains a key resistance level.
Currently, the $6.20 to $6.50 area remains a short-term support zone. Over the past few weeks, buying has repeatedly occurred in this area, keeping prices within a corrective phase.
From an upward perspective, the $6.90 to $7.10 range remains the main resistance zone. This area has repeatedly suppressed rebounds since early July, making it a key level for determining whether the short-term direction can open up further.
If the price falls below $6.20, AVAX may retest the $6.00 level and move closer to the June low of around $5.60. If it manages to hold above $7.10, the next key area to watch is around $9.00.
The article also mentions that AVAX's Relative Strength Index (RSI) is around 46.56, still slightly below the neutral level of 50. This means that buying momentum has recovered somewhat since the sharp drop in June, but a clearer reversal signal has not yet formed.
