From Yahoo Finance: 2025-06-07 10:59:00

Avalanche’s AVAX token surged over 6% in the past 24 hours, outperforming the broader crypto market. The rise may be attributed to real-world asset tokenization developments and institutional adoption. AVAX rebounded from a low of $19.37 to $20.96 amidst political tensions between Trump and Musk.

The token showed strong bullish momentum, establishing support around $19.40. Volume surged during the breakout past $20, indicating a solid move. AVAX now faces short-term resistance near $21 with support at $20.81. Institutional support from FIFA and VanEck’s $100 million PurposeBuilt Fund boosts confidence.

FIFA selected Avalanche to power its blockchain network, planning to migrate NFTs from Algorand and Polygon. VanEck is set to launch a $100 million fund focused on Avalanche projects. AVAX faces technical resistance near $24.80, but institutional backing and RWA growth may help navigate market volatility.

Read more: AVAX Jumps 6% as Trump-Musk Tensions Fade and Institutional Momentum Builds