AVAX Surges 15% on Institutional Partnerships and Growing Adoption

Avalanche (AVAX) has seen its price surge by over 15% following bullish momentum and new institutional partnerships, according to Traders Union.

The uptrend is supported by AVAX/USD breaking above all key moving averages, signaling a bullish short-, medium-, and long-term signal. The current trend alignment remains bearish, but momentum readings remain decisively bullish with the MACD and ADX giving buy signals.

Institutional adoption on the Avalanche network continues to advance, with major financial institutions evaluating its blockchain infrastructure for U.S. equities and ETF tokenization platforms. New York Life Investment Management has launched a tokenized fund on Avalanche, while Janus Henderson has joined as a validator, and Paxos integration enables native USDC and AVAX transactions.

The current price of $9.77 is within the projected range of $8.19 to $11.19, with overbought signals persisting due to technical resistance and support defining the range. The Ichimoku Kijun at $8.43 acts as an additional layer of support.