AVAX Rallies Over 6% on Technical Breakout, Institutional Tailwinds, and FIFA Blockchain Boost
Avalanche’s native token, AVAX, jumped more than 6% in the past 24 hours, outperforming the broader crypto market as measured by the CoinDesk 20 Index, which gained just 0.8% during the same period.
The rebound comes after a week of political turmoil involving President Donald Trump and Tesla CEO Elon Musk, which had sparked a brief market-wide sell-off. AVAX dropped to a low of $19.37, but has since climbed to $20.96, supported by both technical momentum and fresh institutional developments.
According to CoinDesk Research’s technical analysis model, AVAX established strong support near $19.40, confirmed by trading volume exceeding its 24-hour simple moving average. The token’s breakout above $20 was accompanied by rising volume, with short-term resistance now forming near $21 and new support at $20.81.
Beyond technicals, Avalanche continues to benefit from real-world adoption and ecosystem growth:
- FIFA recently selected Avalanche to power its official blockchain, announcing plans to migrate its existing NFT collections from Algorand and Polygon. The new network will serve as the foundation for upcoming digital fan experiences.
- VanEck’s PurposeBuilt Fund, a $100 million vehicle focused entirely on the Avalanche ecosystem, is expected to launch this month. First announced on May 21, the fund will back Avalanche-native projects in gaming, decentralized finance, and AI — and will also allocate idle capital into on-chain RWA (real-world asset) products such as tokenized money markets.
Despite short-term resistance around $24.80, analysts say that the convergence of institutional interest, expanding network usage, and strong on-chain fundamentals could give AVAX an edge against broader market volatility throughout June.
