Avalanche (AVAX) soared to an intraday high of $18.75 after news of Nasdaq filing to list the VanEck Avalanche ETF, but it had pulled back to $17.73 at press time.
While the price surge sparked excitement among crypto enthusiasts, the correction has raised questions about whether AVAX can breach the $20 mark.
The Nasdaq filing to list VanEck Avalanche ETF
Submitted on April 10, 2025, the Nasdaq filing for the VanEck Avalanche Trust ETF, which comes just days after a similar filing to list a spot Avalanche ETF managed by Grayscale, could signal a new era of institutional adoption for AVAX.
If approved, this ETF would enable investors to gain exposure to AVAX without owning the token directly, potentially drawing significant institutional interest.
This regulated investment vehicle could boost liquidity for AVAX, which boasts a $7.35 billion market cap, giving it price surges similar to the price surges seen with Bitcoin and Ethereum ETFs.
However, regulatory approval is far from certain, tempering expectations for an immediate Avalanche price breakout.
Technical analysis and Avalanche price outlook
Looking at technical analysis, AVAX faces stiff resistance between $17.78 and $19.62, where many holders are underwater.
Bearish signals like a negative Chaikin Money Flow (CMF) and Moving Average Convergence Divergence (MACD) suggest weak buying pressure persists.
However, the recent rebound from $14.66 to $18.75 shows some grit in the token’s price action.
If AVX maintains above the $15–$17 support zone, it could be ready for a longer-term recovery as the broader crypto market reacts to Trump’s tariffs pause.
Clearing the $18.75 level, in particular, could propel Avalanche price toward $20, though failure might see it slide back to below $15.
AVAX market sentiment
Sentiment around AVAX blends hope with hesitation, as seen in mixed reactions on social media platforms.
Some view the Avalanche ETF news as a game-changer, while others doubt its short-term impact amid a choppy crypto market.
Although the recent tariff pause by President Trump has eased some downward pressure, volatility lingers, and macro factors like interest rates and global tensions could sway investor appetite for risk assets like AVAX.
Ultimately, the ETF’s fate will heavily influence its next move, but external conditions will also weigh in.
For now, holding above $15–$17 will be key to any sustained push higher, with a possible ETF approval set to unlock institutional funds that could send AVAX’s price through the roof.
With the pro-crypto Paul Atkins now at the helm of the SEC, the chances of the Avalanche ETF getting a nod from the SEC are higher, and analysts project that this optimism could lead to increased activity for the cryptocurrency as investors align themselves with a potential approval and subsequent price surge.
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