Avalanche Holds Bullish Trend in October Amid Key Support Levels
Avalanche (AVAX) maintains a bullish outlook in October, with key support at $10.40 needed to sustain its September breakout. The cryptocurrency is currently trading near $11.24, showing a 0.94% increase today, caught between two converging trendlines. The lower support line, rising by about 8 cents daily, could intersect with the price within a week if AVAX remains flat. By the end of October, these lines will converge near $12.80, forcing a decisive breakout in either direction. A daily close above $12.00 would target the upper trendline near $12.20, potentially reaching $13.00.
Support levels include the 20-day EMA at $10.40, followed by the 50-day EMA at $9.14 and the 200-day EMA at $8.97. The Relative Strength Index (RSI) at 66.20 indicates room for further gains before the rally appears overheated. South Korea's Financial Services Commission has introduced rules allowing on-chain issuance and circulation of stocks, bonds, and funds starting February 2027. Avalanche claims the Korea Securities Depository is integrating with its network, though this connection is not yet live.
Avalanche led tokenized stock market cap growth in September, adding $245.5 million, surpassing competitors like BNB Chain and Ethereum. Grayscale's Avalanche Staking ETF (GAVA) has added Anchorage Digital as a custodian, complementing Coinbase, to manage risk as the fund expands. October's price predictions hinge on holding above $10.40, with potential upside to $13.00 if $12.00 is cleared. Conversely, a drop below $10.40 could expose support at $9.14 and lower.