AVAX Rises Over 6% Amid Improved Market Sentiment and Institutional Support
Avalanche's native token AVAX increased by over 6% in the last 24 hours, outperforming the broader crypto market, which rose 0.8% as per the CoinDesk 20 index.
Key points include:
- AVAX rebounded from $19.37 to $20.96 amid political tensions involving U.S. President Donald Trump and Tesla CEO Elon Musk.
- The rebound showed bullish momentum, with strong volume confirming support around $19.40.
- Resistance is noted near $21, with support at $20.81.
- FIFA selected Avalanche for its blockchain network, planning to migrate NFTs from Algorand and Polygon.
- VanEck plans to launch a $100 million PurposeBuilt Fund focused on Avalanche projects this month.
- The fund will invest in gaming, finance, AI, and real-world asset products.
- Technical resistance remains at $24.80, but institutional activity and partnerships like FIFA may stabilize AVAX against market volatility.