AVAX Bulls Charge Toward $30 as Heavyweight Backers FIFA and VanEck Double Down
Avalanche’s native token AVAX is gearing up for a potential breakout—fueled by institutional heavyweights betting big on its ecosystem. With FIFA’s blockchain ambitions and VanEck’s relentless crypto ETF push, the $30 price target isn’t just hopium anymore.
Since when did sports federations and Wall Street suits become crypto’s hype men? The market’s clearly rewriting the playbook—one questionable partnership at a time.
Avalanche blockchain gains traction
FIFA, football’s global governing body, announced on Thursday that it plans to launch its own Layer-1 (L1) blockchain on the Avalanche network. This news comes as the AVAX network recently underwent 1its major Avalanche 9000 upgrade, which aims to attract new developers and encourage them to create customized L1s. The Avalanche price was positively related to this announcement and rose 9% that day.
🚀 Big News: FIFA Collect Has Migrated to the New FIFA Blockchain! 🌍⚽️
FIFA Collect is now live on the newly launched FIFA Blockchain.
This MOVE enhances our ability to deliver unique digital collectibles and immersive fan experiences, powered by the speed, scalability,… pic.twitter.com/5bXJxRvBKU
Earlier this week, VanEck, a leading asset manager, announced the upcoming launch of the VanEck PurposeBuilt Fund. This private digital assets fund will invest in businesses building on Avalanche and launching tokens designed to create long-term value and utility. The fund will launch in June 2025 and is open only to qualified purchasers.
‘Avalanche has become a magnet for thoughtful builders... We’re bringing capital and conviction to founders creating lasting value,” – Pranav Kanade, Portfolio Manager.
These announcements and developments will have a positive outlook for the Avalanche network and its prices in the long term as they enhance its visibility, validate its technology, and drive ecosystem growth through increased adoption and developer activity.
Avalanche Price Forecast: AVAX bulls gain momentum, targeting the $30 mark
Avalanche price retested and found support around its weekly level at $20.99 on Monday and rallied 13.53% until Thursday. This level roughly coincides with the 50-day Exponential Moving Average at $22.21, making it a key support zone. At the time of writing on Friday, it approaches its key resistance level at $25.83, its 200-day EMA.
If AVAX continues its upward momentum and closes above $25.83 on a daily basis, it could extend the rally to retest its psychological barrier at $30. A successful close above this level could extend additional gains toward the $33.60 mark.
The Relative Strength Index (RSI) on the daily chart reads 62, above its neutral level of 50 and points upward, indicating bullish momentum. Moreover, the Moving Average Convergence Divergence (MACD) indicator is also about to flip a bullish crossover. It could further support the bullish thesis if it successfully completes a bullish crossover.
AVAX/USDT daily chart
However, if AVAX faces a correction, it could extend the decline to test its 50-day EMA level at $22.21.
