AVAX Jumps 6% as Trump-Musk Tensions Fade and Institutional Momentum Builds

The token’s rebound was bolstered by technicals, as well as growing Avalanche-based projects making exposure to AVAX more attractive than to other altcoins

• AVAX surged by over 6% in the last 24 hours, outperforming the broader crypto market.
• The price rebound may be attributed to real-world asset tokenization, institutional adoption and growing adoption of its technology.
• AVAX established strong support around $19.40 and broke out above $20, with short-term resistance near $21 and support at $20.81.Avalanche’s native token AVAX surged more than 6% in the last 24 hours, outpacing the broader crypto market as measured by the CoinDesk 20 (CD20) index, which rose 0.8% in the same period.AVAX’s price may have rebounded from political jitters and moved on the back of major developments in real-world asset (RWA) tokenization and institutional adoption.

  
  

  The token climbed from a low of $19.37 to $20.96, recovering from a wider market sell-off triggered by growing tensions between U.S. President Donald Trump and Tesla CEO Elon Musk earlier this week, which saw the former threaten to terminate government contracts for the latter, who in turn accused the president of being implicated in the Jeffrey Epstein files.

  
  

  The token rebounded after showing multiple signs of bullish momentum, according to CoinDesk’s Research's technical analysis data model, which shows AVAX established a strong footing around $19.40 that was confirmed by volume exceeding the 24-hour simple moving average.