Key Takeaways:Avalanche (AVAX) price surged 10.71% to $36.28, outpacing the crypto market’s +0.21% gainBitwise AVAX ETF filing sparks fresh institutional demand and bullish sentimentAVAX breaks above key $32.67 resistance level, with RSI and MACD signaling strong upside momentumAVAX Rally Fueled by ETF Optimism and Rate CutsAVAX surged 10.71% over the past 24 hours, fully retracing losses from the September 22 crypto crash. The move comes amid renewed investor optimism after Bitwise filed for an Avalanche ETF on September 17 — part of a broader push for altcoin-based exchange-traded products.Meanwhile, the Federal Reserve’s recent 25bps rate cut further lifted sentiment across crypto markets, enhancing the appeal of high-yield digital assets like AVAX.Institutional Demand Rises on Bitwise ETF FilingBitwise’s application for a dedicated AVAX ETF adds Avalanche to a growing list of altcoins, including Solana and XRP, under regulatory consideration. Analysts see a 90% likelihood of major altcoin ETF approvals by late 2025, which could drive significant institutional inflows.Anthony Scaramucci, founder and CEO of SkyBridge Capital, also recently expressed his confidence in the Avalanche network during an interview with CNBC. He compared Avalanche to Ethereum and Solana, describing it as a time-tested blockchain. In related news, AgriFORCE Growing Systems, a publicly traded company, recently raised $550 million to transition to an AVAX treasury strategy. Anthony Scaramucci has also joined the company's strategic advisory board.Macro Tailwinds Support Crypto AssetsThe Fed’s first rate cut of 2025 on September 17 helped drive capital toward crypto assets, including AVAX. The policy shift, although partially priced in, aligns with increasing investor appetite for yield-bearing crypto platforms.AVAX rose 12% immediately following the cut, tracking similar moves in BTC and ETH. Still, the Fed’s internal division (some members favored a larger 50bps cut) may cap short-term upside.Technical Breakout Confirms Bullish MomentumOn the technical front, AVAX broke out above the 23.6% Fibonacci retracement level at $32.67, with strong momentum signals:- RSI-7 sits at 71.4, confirming overbought but persistent bullish momentum.- MACD bullish crossover, with histogram at +0.42, suggests accelerating trend strength.- Trading volume surged 109% to $2.65 billion, indicating conviction among buyers.The AVAX price is now testing long-standing resistance at $36. A breakout above this zone could open the path to $39.30 and even $48.22 based on wave structure analysis.Outlook: Can AVAX Sustain Momentum?AVAX's 10% rally reflects a powerful mix of institutional optimism, macro liquidity support, and technical breakout confirmation. While overbought signals suggest short-term cooling is possible, the broader structure points to a strong momentum that could be sustained.
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