- The price of Avalanche (AVAX) is trading higher Tuesday morning, with bulls hovering above the critical $30 mark.
- Most cryptocurrencies are positioned at key levels as the market waits for the Federal Reserve meeting and its interest-rate decision.
- Institutional interest is also rising, with Bitwise filing for a spot Avalanche exchange-traded fund with the U.S. Securities and Exchange Commission.
Avalanche price eyes breakout above $30
While small-cap tokens like Avantis have surged to top the daily gainers, Avalanche (AVAX) remains firmly in the green. It is trading among the top performers within the top 20 cryptocurrencies by market capitalization.
At the time of writing on September 16, AVAX was trading near $30.50, up about 7% over the past 24 hours and an impressive roughly 18% over the last seven days.
That outpaces the broader crypto market’s 1% gain and places bulls close to a channel breakout resistance line.
Trading volume has jumped to $1.18 billion, more than a 27% increase in the past day, signaling clear buying pressure.
Price chart of Avalanche by TradingView
From a technical perspective, chart patterns indicate AVAX is on the verge of a meaningful channel breakout.
Although the token has largely consolidated inside a descending parallel channel, the recent upswing has bulls seeking a corrective pattern that could pave the way for a re-test of $44.
Avalanche has notably cleared the key horizontal resistance at $27. Holding above this level and piercing the $30 barrier may allow bulls to push past the channel’s upper boundary.
The relative strength index (RSI) sits at 64, suggesting there is room for further upside before overbought conditions set in. A bullish outlook is further supported by a positive moving average convergence/divergence (MACD) on the daily chart.
Overall, the chart structure favors AVAX for a move above $30, potentially supported by ecosystem expansion and growing DeFi activity.
Bitwise AVAX ETF filing and the Fed decision
Technical optimism is reinforced by recent regulatory and macro developments.
One notable development is Bitwise Asset Management’s S-1 registration filing with the U.S. Securities and Exchange Commission for a spot Avalanche ETF.
NEW: @BitwiseInvest adds an Avalanche ETF to their filings list pic.twitter.com/tXOmHmSWeR
— James Seyffart (@JSeyff) September 15, 2025
This filing, following the establishment of a legal trust in Delaware, proposes direct exposure to AVAX via custodied tokens, enabling investors to gain regulated access without managing wallets or private keys.
Issuers such as VanEck and Grayscale are also among those pursuing ETFs that would track AVAX. Sentiment is elevated as the market anticipates potential SEC approvals in the coming months.
Expectations around the Federal Reserve’s upcoming interest-rate decision are another factor supporting AVAX’s price.
The Fed meets this week, and a 25-basis-point rate cut could inject fresh liquidity into risk assets like cryptocurrencies, supporting a broader recovery in altcoins that would likely lift Avalanche alongside its peers.