Prediction: Will Nasdaq's new ETF registration push AVAX to $30?

Friday's 8% drop in Avalanche pricing brought it to $20.

Should the US SEC approve, Nasdaq will offer Canary Capital's AVAX spot ETF.

AVAX's support level matches the 50-day SMA, thus bullish traders are considering a comeback.

AVAX finds important support around $20 despite market volatility.

In the last 24 hours, Avalanche (AVAX) has fallen 8% to $20 support. The cryptocurrency industry fell amid market volatility and risk sentiment.

AVAX's resiliency at $20 demonstrates substantial investor interest despite the slump.

Avalanche Price Analysis | March 28 Avalanche Price Analysis | March 28

Recently, macroeconomic worries, regulatory changes, and liquidity shifts have caused crypto price volatility.

While Bitcoin and Ethereum have also pulledbacks, AVAX's falling trade volume at $20 signals bulls may try to build a local bottom.

Avalanche may benefit from Nasdaq listing Canary Capital's AVAX spot ETF

The proposed AVAX spot ETF follows conventional financial institutions' move to recognize digital assets as a valid asset class.

If authorized, this ETF will provide institutional investors Avalanche exposure without holding or managing AVAX tokens.

Market watchers say Avalanche's ETF listing might boost prices as institutional money joins the ecosystem.

This is important since it coincides with a larger push for crypto ETFs in key financial markets.

The Nasdaq filing shows institutional trust in Avalanche's long-term potential despite short-term volatility.

AVAX price prediction: Losing $20 support may provide buying chance

AVAX pricing is hovering at $20, a key support that might determine its future move.

AVAX is down 8.40% on the 12-hour chart, trading at $20.17.

Red candlesticks indicate bearish momentum, and the 50-day SMA around $19.74 provides immediate support.

If this level fails, a stronger demand zone at $18 might start a rally.

Bulls defending $20 and pushing AVAX over the 21.99 SMA might trigger a $23 relief surge.

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