TradingKey – Avalanche surges 30% intraday, strongly breaching the $10 mark to hit a new high since January this year.
On September 20, as major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) consolidated, Avalanche (AVAX) demonstrated a strong independent rally. Over the past 24 hours, AVAX surged nearly 30%, strongly breaking through $10, trading temporarily at $10.73.
Avalanche’s current price surge is mainly driven by favorable upgrades and institutional-grade partnerships. Recently, market rumors emerged regarding a collaboration between Intercontinental Exchange (ICE, the parent company of the NYSE) and the Avalanche ecosystem in asset tokenization. Furthermore, compliant crypto institution and stablecoin issuer Paxos announced plans to deepen its integration with the Avalanche ecosystem, clearing obstacles for institutional-grade on-chain settlements and once again polishing AVAX’s reputation as an enterprise-grade, institutionally compliant public blockchain.
On September 22, Avalanche will undergo the Helicon mainnet upgrade. The core improvement is significantly shortening the AVAX staking lockup period from the original 14 days to 48 hours. This change dramatically reduces the time cost of capital for validators and stakers, encouraging substantial retail and institutional capital to buy the token in advance for staking positioning.
Currently, AVAX has broken through the psychological threshold of $10 and strong daily resistance. If it can hold firmly above this level with expanded volume on the daily chart, it is bullish toward $15 in the short term while confirming a medium-to-long-term bottom reversal. If short-term profit-taking occurs, as long as it holds the $8-$8.5 range—the top of the previous consolidation box (a resistance-turned-support zone)—it signals a healthy pullback correction.
AVAX price chart, Source: TradingView
This content was translated using AI and reviewed for clarity. It is for informational purposes only.