$AVAX gains momentum as VanEck files for the first US Spot ETF, putting Wall Street eyes on the high-speed L1.
What's Happening:
AVAX trades around $13.55, showing strength with a double-digit gain in some pairs.
VanEck has filed for a Spot AVAX ETF with Nasdaq, a massive institutional endorsement.
Grayscale is reportedly planning to convert its Avalanche Trust into a Spot ETF.
Technical patterns suggest a "Double Bottom" formation on monthly charts, signaling a potential long-term trend reversal.
Why It Matters:
The ETF narrative is the most powerful driver in crypto right now. Unlike vague partnerships, an ETF filing is a concrete step toward trillions in capital access. Avalanche is positioning itself as the "next inline" after SOL for institutional approval.
Technical View:
AVAX is breaking out of its accumulation zone. Clearing $14.00 confirms the reversal. Support is now building at $13.00. The long-term target remains $20+ if the ETF hype sustains.
🎯 Key Levels:
Support: $13.00 | Resistance: $14.50
24h Range: $12.80 - $13.60
💡 "First they ignore, then they file ETFs."
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#Avalanche #AVAX #CryptoETF #VanEck #DeFi
Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always do your own research (DYOR) before making any investment decisions.
