Avalanche’s native token increased more than 6% in the last 24 hours, exceeding the largest cryptographic market measured by the Coindesk 20 index (CD20), which increased 0.8% in the same period.
The AVAX price may have recovered from political nerves and advanced in important developments in the token and institutional adoption of the real world asset (RWA).
The Token rose from a minimum of $ 19.37 to $ 20.96, recovering from a broader market from a market triggered by the growing tensions between the president of the United States, Donald Trump and the CEO of Tesla, Elon Musk at the beginning of this week, which he saw to the old threat of finishing the government contracts for the second, who in turn accused the president of being involved in Jeffrey.
The Token recovered after showing multiple signs of bullish impulse, according to the technical analysis model of Coindesk’s Research, which shows that Avax established a solid base of around $ 19.40 that was confirmed by a volume that exceeds the simple mobile average of 24 hours.
The volume increased even more at the time of Avax’s break in the $ 20 mark, showing strength in the movement. The Token has now formed short -term resistance about $ 21 and support at $ 20.81, according to the model.
But the strongest rebound that the average may not only be technical. Last month, FIFA announced that he chose Avalanche to feed his FIFA blockchain network, with plans to migrate his non -fungible token collection (NFT) of Algorand and Polygon to the new network and build new fans experiences.
The institutional impulse added another leg. It is expected that the asset manager Vaneck will throw a purpose of $ 100 million this month after announcing it for the first time on May 21, focused exclusively on projects within the Avalanche ecosystem.
The fund will support tokens and companies in games, finance and AI, while implementing inactive capital in real world assets in the chain, such as tokenized monetary markets.
The price still faces a technical resistance about $ 24.80, but the combination of institutional activity, growth of RWA in the chain and the use of the network of high profile partners such as FIFA could help AVax stay in front of a wider volatility of the market until June.
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