Avalanche’s native token AVAX experienced a strong surge of over 6% in the past 24 hours, outperforming the broader crypto market which saw a modest 0.8% increase during the same period. This rebound may be driven by positive developments in real-world asset (RWA) tokenization and growing institutional interest, alongside a recovery from recent political uncertainties.
AVAX’s price jumped from a low of $19.37 to a peak of $20.96, bouncing back after a market-wide sell-off sparked by recent tensions between U.S. President Donald Trump and Tesla CEO Elon Musk. The political jitters, including threats to cancel government contracts and accusations involving Jeffrey Epstein files, caused short-term volatility, but AVAX’s technical indicators suggest a bullish momentum.
According to technical analysis, AVAX found solid support around $19.40, confirmed by increased trading volume surpassing its 24-hour simple moving average. The breakout above the $20 mark was accompanied by rising volume, indicating strong buying interest. The token has now established short-term resistance near $21 and support at approximately $20.81, setting the stage for potential further gains.
Beyond technical factors, recent major partnerships are fueling optimism. Notably, FIFA announced that it has selected Avalanche to host its blockchain network. The plan includes migrating FIFA’s existing NFT collection from platforms like Algorand and Polygon and enhancing fan engagement through new digital experiences, boosting network activity and credibility.
Institutional backing is also gaining momentum. VanEck is set to launch a $100 million PurposeBuilt Fund focused solely on Avalanche ecosystem projects, covering gaming, finance, and AI sectors. The fund aims to deploy capital into on-chain real-world asset products, such as tokenized money markets, further strengthening AVAX’s ecosystem.
While technical resistance remains near $24.80, the combination of institutional investments, expanding on-chain RWA projects, and high-profile partnerships like FIFA could help AVAX maintain its upward trajectory and potentially outperform broader market volatility through June. Keep an eye on these catalysts as they may shape the token’s momentum in the coming weeks.
