AVAX (AVAX) Has Emerged as a Strong Performer in the Cryptocurrency Market

Avalanche (AVAX) has emerged as a strong performer in the cryptocurrency market, currently trading at $22.22 with a 3.04% increase over the past 24 hours.

Avalanche (AVAX) has emerged as a standout performer in the oversold cryptocurrency market. The token is currently changing hands at $22.22, showing a 3.04% increase over the past 24 hours.

It remains the 14th-ranked cryptocurrency with a market capitalization of $9.37 billion.

Trading activity in AVAX has surged. Within the 24-hour trading period, the token’s volume stands at $513.31 million, which amounts to a 16.52% surge.

This volume spike signifies growing interest from investors and traders in AVAX, indicating potential shifts in market sentiment and trading activity.

Known crypto trading expert Eric Cryptoman recently shared an optimistic outlook on investing in Avalanche (AVAX).

Taking to Twitter, Cryptoman advised traders to "long" AVAX from the $18 to $22 range and take profit within the $45 to $55 zone.

"Long $AVAX between 18-22.

Take profit between 45-55.

Thank me later.

" he advised his followers.

Credit: Eric Cryptoman

However, at the time of press, AVAX was available for $19.85 on Binance, placing it closer to the lower band of the suggested entry-level.

The crypto giant's recent price movements show a 3.2% increase from the previous day's close at $19.23.

Technical indicators used by crypto traders to identify trends suggest a positive outlook for AVAX.

The Relative Strength Index (RSI) on daily charts stands at 58, indicating that the asset has room for further upward movement before becoming overbought.

In a technical development, a bullish MACD crossover occurred on June 10. The signal line crossed above the MACD line, which is a technical pattern that traders often use to identify potential momentum shifts or reversals.

This occurrence could be indicating a potential shift in momentum in favor of buyers, who might be able to push prices higher from current levels.

Technology and Ecosystem Growth

The Avalanche blockchain’s technical advantages are driving adoption in diverse sectors. The platform offers low transaction fees and high throughput, making it attractive for developers and users.

A major technological advancement is the Avalanche 9000 upgrade, which introduces enhanced scalability through subnets. This update enables developers to create custom layer-1 solutions, catering to specific use cases with specialized tokens and governance structures.

The gaming and decentralized finance (DeFi) sectors are showing particular interest in Avalanche’s capabilities. Its ability to handle complex transactions at scale positions it well for enterprise adoption.

MapleStory N, a Web3 gaming project, is set to launch on the Avalanche network on May 15, 12025. This addition expands the platform’s gaming ecosystem and showcases real-world utility for the AVAX token.

The Avalanche Summit 2025 in London highlighted major partnerships with traditional finance giants. Mastercard, SMBC, and Visa announced collaborations that will increase AVAX’s integration into the fiat world.

These partnerships aim to facilitate seamless fiat-cryptocurrency exchange services, expanding the token’s use cases beyond the cryptocurrency domain.

Market Dynamics and Regulatory Factors

Despite recent gains, AVAX has faced some challenges. The token experienced a 13.49% decline last week, dropping to $20.07 in May following market volatility.

The U.S. Securities and Exchange Commission (SEC) also delayed approval of the Grayscale AVAX ETF until July 15, creating uncertainty among institutional investors.

Nasdaq and VanEck have also filed for AVAX ETF products, which are pending regulatory approval.

The Degen Times reported that the SEC has selected a new date for making a decision on Grayscale’s application to convert its existing Grayscale Trust to be an ETF.

The new review date for the decision is set for July 15, 2025.

The apex regulator is currently assessing the application for Grayscale’s spot ETF for $AVAX.

The application was initially set to be reviewed on June 15, 2025. However, the regulator has now pushed the review to a later date.

The agency is currently reviewing several applications for spot Bitcoin ETFs from well-known firms like BlackRock, WisdomTree, and State Street.

Recently, the SEC faced a setback in its case against crypto exchange Coinbase. A judge ruled that the regulator must first complete administrative proceedings before pursuing an SEC action.

This decision could delay the SEC’s case against Coinbase, which is a key factor in the broader cryptocurrency market.

On-Chain Analysis and Price Outlook

Recent on-chain metrics from Santiment highlight a recovery momentum among long-term investors in Avalanch (AVAX).