Avalanche (AVAX) approaches Pivotal $30 Level Amid Growing Institutional Interest
Avalanche (AVAX) is hovering around $29.8, just shy of breaking through the significant $30 barrier. This price action follows a solid rally seen on September 16. Analysts predict that clearing $30 could signal a major jump, perhaps pushing AVAX towards $50-$60.
The current AVAX price prediction expects trading to stay within $29.60 and $30.50. While momentary dips are common, a sustained close above $30 might encourage more buyers. And if AVAX overcomes the next resistance at $33, it could ignite a robust rally.
What’s Driving AVAX Price?
- The Avalanche Foundation plans to raise $1 billion, hinting at strong future prospects.
- ETF filings by Bitwise, alongside Grayscale and VanEck, suggest increasing institutional attention.
- Ongoing advancement in cross-chain technology and decentralized finance (DeFi) supports the bullish case.
If AVAX dips below $30, watch for support at $28.40. A decline might dampen market sentiment, especially with low trading volume. traders should monitor these levels closely due to crypto’s inherent volatility.
Technically, AVAX oscillates between $28 and $31. Cracking $30 decisively would shift the AVAX price prediction to bullish mode, with $50 as a conceivable goal.With favorable fundamentals and mounting institutional involvement, prospects seem promising. $30 remains a crucial test point for AVAX. Successfully surpassing it may allow the $50 milestone to become realistic soon.
