- AVAX fell 8% in 24 hours, down 18% on the week, trading near $27.72.
- AVAX One plans $550M in acquisitions with backing from Anthony Scaramucci, but momentum hasn’t shifted.
- Weak support near $27.65 and resistance at $30.28 signal hesitation as broader crypto markets slide.
Avalanche’s native token AVAX has slipped deeper into red territory, tumbling 8% in the last 24 hours and extending its weekly losses to nearly 18%. Now trading at $27.72, AVAX has struggled to stay above $30 and continues to test weak support zones near $27.65. Despite headline-grabbing institutional developments, including a $550 million acquisition plan tied to Anthony Scaramucci, the market remains unconvinced.
Institutional Moves Fail to Stop the Bleeding
Earlier this week, AgriFORCE Growing Systems rebranded to AVAX One, announcing plans to raise $550 million to acquire and hold Avalanche’s token. If completed, this would make AVAX One the first Nasdaq-listed company dedicated solely to Avalanche’s ecosystem, aiming to hold over $700 million worth of AVAX. Backed by a heavyweight advisory team including SkyBridge Capital’s Anthony Scaramucci and Coinbase Institutional’s Brett Tejpaul, the move was designed to signal confidence in Avalanche’s future. But so far, traders haven’t responded with fresh inflows, leaving price momentum firmly negative.
Weak Technicals Highlight Market Hesitation
Data shows AVAX has failed multiple attempts to reclaim $30.28 resistance while volumes dropped to just 121,896 tokens in Friday’s early trading. While lower volume could suggest selling pressure is cooling, it hasn’t flipped sentiment. Market-wide weakness has also weighed on AVAX, with ETH, SOL, and DOGE all down double digits this week, and Bitcoin sliding another 6%. For Avalanche, institutional interest isn’t yet strong enough to counteract broad risk-off trends in crypto.
Long-Term Outlook Remains Clouded
Avalanche continues to push its roadmap of enterprise partnerships and real-world integrations, but the current slide underscores the gap between long-term vision and short-term confidence. Institutional vehicles like AVAX One could eventually boost liquidity and strengthen the project’s credibility, but for now, AVAX remains locked in bearish territory with uncertain near-term support.
