Avalanche's native token, AVAX, has faced a significant downturn recently, dropping 25%. However, the cryptocurrency is currently testing crucial resistance levels, indicating potential for recovery amid institutional backing. The publication provides the following information: AVAX's performance may improve as market conditions evolve.
Institutional Interest in AVAX
Despite the recent price decline, institutional interest in AVAX remains strong, with notable participation from firms like VanEck and Crypto Finance. This support suggests that confidence in Avalanche's long-term prospects is still intact.
Potential for Price Rebound
Analysts believe that if AVAX can break through the resistance level at $22, it could pave the way for a rebound towards $26 or even higher, signaling a potential turnaround for the asset.
