Today, the price of AVAX dropped 10.15%, as the rest of the crypto market saw another red tide among big assets. Despite the big decline, the Avalanche price action saw a surprising increase in activity. The trading volume over the last 24 hours rose by 48.43%. There was a strange mix of a lot of selling and a lot of buyers wanting to get in at reduced prices.
During the session, a number of large-cap tokens failed, however AVAX stayed in a different structure on the lower periods. This phase made market participants even more interested in important support zones and Bitwise’s new staking ETF filing.
AVAX Price Edges Toward $8.64 Zone
The chart shows a slow drop, with the line of resistance going down to mark each time the price tries to bounce. Sellers force the structure down, which makes unambiguous lower highs. The AVAX value is currently trading at $12.78, which is just over a mid-range area that has caused major reactions in the past. The recoveries during the day are limited, and buyers can’t seize control every time they try to break through minor supports.
The DMI indicator sets the mood. The –D stays at 35, the +D stays at 13, and the big gap puts the Avalanche price firmly in bearish territory. The ADX at 46 is particularly substantial as it signals a strong trend strength to support the negative trend. This mix keeps the market under pressure hindering a possible fast recovery move.
The second important region is at $8.64, which has been a strong launchpad in the past. Every retest modifies the setup and makes room for rebounds after the price stabilizes. The $15.33 area is the closest upside checkpoint, and the $20.55 area is the ceiling of a larger recovery.
These bearish conditions are important because they make the drawdown longer and push AVAX toward lower discount levels, which is positive for AVAX’s long-term price performance. A retest of $8.64 would mark the point of strong accumulation, and create the foundation for the next bullish phase.
AVAX/USDT 1-Day Chart (Source: TradingView)Bitwise Filing Shifts Yield Focus
Bitwise made changes to their Avalanche ETF filling and added a staking feature that got a lot of attention. The scheme let the fund stake up to 70% of its AVAX holdings, making it the first U.S. crypto ETF that gives shareholders a staking yield.
This method could draw in investors who are interested in making money because standard ETFs don’t usually give direct crypto yield. In the interim, Bitwise set the pricing of the product at 0.34% per year. This is was lower than many other similar ETFs and would get even more attention.
The application also set a clear start date of Q1 2026 on NYSE Arca. This time frame gave the investors a set amount of time to get ready. The AVAX price was still significantly below the highs of past cycles. This makes the current price attractive to buyers looking for yield. They would dole out incentives after a 12% operational cost. However, investors would still get a fantastic deal because the other goods didn’t have any way to earn money.
Staking also brought a new level to Avalanche price predictions because it cut down on the amount of liquid supplies. Analysts were interested in this idea and looked for long-term effects of tightening.
Even though the market was selling right after, the ETF story nevertheless set up a strong basis for future buying. As the conditions get better, the yield demand may make people more interested in critical AVAX levels.
Summary
The AVAX price is now trading close to an important area, and the bigger chart still shows that there is possibility for a big bounce back if sellers push toward the $8.64 launch zone. Bitwise’s filling for a staking ETF, on the other hand, adds a new structural factor that could lower the amount of liquid available and bring in fresh demand.
As the market settles down, these elements make it easier to see what the price of Avalanche will be in the future. Buyers might show strength by breaking over the declining resistance line. The next few sessions will show if AVAX is ready to start its next wave of recuperation.
Source: https://coingape.com/markets/avax-price-prediction-after-bitwise-files-for-a-staking-etf-a-rebound-coming/
