Avalanche (AVAX) is trading at $9.16, having gained over 7% in 24 hours as it approaches a key resistance level. Analyst CryptoPulse notes the token is testing the $9.50 mark, with a failure to close above potentially leading to a drop toward $8.30 support. Concurrently, the Avalanche ecosystem is set to integrate over $2 billion in institutional assets via a new initiative from Progmat.
The Avalanche (AVAX) token is showing renewed strength, trading at $9.16 with a 24-hour gain of 7.03%. Its market capitalization stands at $3.95 billion with a daily trading volume of $637 million.
On the daily chart, AVAX is testing the $9.50 resistance level as pointed out by analyst CryptoPulse. The analyst stated that if the price does not close above the resistance, it may fall to the support at $8.30.
In a significant ecosystem development, Progmat is launching a dedicated Avalanche Layer-1 solution to manage assets. Avalanche recently announced this move will bring over $2 billion worth of assets onto its platform.
This integration focuses on real-world assets (RWAs) and leverages the network’s built-in privacy features. The addition of tokenized securities is seen as a foundation for increased institutional credibility and long-term adoption.
The market now watches whether AVAX can sustain momentum above the $9.50 resistance. A failure to hold support could prompt a correction, while a breakout may signal the start of a new trend.
