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AVAX surges 11 today, institutional staking mechanism boosts market confidence. Can the technicals break through the 13.5 resistance level?
【Crypto World】AVAX’s performance today is quite strong, with a direct increase of 11%. Against the backdrop of moderate rises in BTC and ETH, it has become the market’s favorite. The driving force behind this is clear—actions by leading asset management institutions. These large organizations have updated the AVAX spot ETF filings, adding a staking reward mechanism that allows locking up to 70% of holdings to earn yields. This design is quite attractive to long-term holders.
In terms of trading activity, the volume has exploded, soaring 140% to $546 million, indicating that this market movement is not just a flash in the pan, but driven by genuine demand.
What does the technical analysis say? AVAX is currently repeatedly testing the $13.20 to $13.50 range, which is a critical resistance level. If it can stabilize and break through this pressure, then the target of $15.60 becomes promising. Of course, the market is ever-changing, so we need to keep a close eye on how this position performs.