Avalanche (AVAX) is gaining momentum as technical indicators like RSI and MACD point to a strengthening bullish trend. The AVAX price over the last 24 hours is up by 0.86%, and over the last week it is also up by 12.18%.
At the time of writing, AVAX is trading at $30.12 with a 24-hour trading volume of $1.09 billion, down by 8.75% over the last 24 hours. The token has a market capitalization of $12.7 billion, which is also up by 0.87%.
Source: CoinMarketCap
A prominent crypto analyst, CryptosRus, revealed that Bitwise Asset Management has filed an S-1 with the U.S. Securities and Exchange Commission (SEC) for a spot Avalanche (AVAX) ETF, joining VanEck and Grayscale in the race.
Source: X
The move highlights growing institutional interest in Avalanche, a high-speed, eco-friendly blockchain positioned as a strong alternative to Ethereum. If approved, the ETF would let investors gain AVAX exposure through traditional brokerage accounts, easing access and driving broader adoption.
With multiple firms now competing, the spotlight on Avalanche is intensifying as crypto ETFs expand beyond Bitcoin and Ethereum. While SEC approval is uncertain, analysts say a spot AVAX ETF could attract institutional inflows, increase liquidity, and cement Avalanche as one of the most anticipated altcoins to reach Wall Street.
Also Read: Avalanche (AVAX) Price Breakout Opens Bullish Path Toward $49.00
The technical indicators show a strengthening bullish trend. At 59.36, the RSI reflects good momentum but no over-excitement. At 1.1739, the MACD line is above the signal line of 0.7514 with a positive histogram of 0.4224 to reinforce rising bullish strength.
Meanwhile, the Bollinger Bands are widening, with the price testing the upper band at $29.95, reinforcing volatility widening as well as overwhelming buying pressure.
Source: TradingView
From a price action standpoint, AVAX is remaining above the 20-week SMA ($23.09) and near the top of the Bollinger Bands. The next objective to the higher side is approximately $55–$65, zones where it has resisted earlier, with support initially present near $23.09 and then stronger near $16.24.
Community sentiment about Avalanche (AVAX) is gradually improving following the Bitwise spot ETF filing. Many within the crypto community take that as a vote of confidence about Avalanche’s future upside and a sign that Wall Street is beginning to take the project seriously.
Source: CoinMarketCap
Social traders cite rising institutional interest as a motivator for price appreciation, while long-term holders are optimistic an ETF would boost adoption, liquidity, and visibility.
Also Read: AVAX Price Explodes: Can It Hit $47.94 in the Coming Weeks?
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