Could this be the moment of purchase of Avalanche? star-news.press/wp

Avalanche faces a possible correction in the short term due to the difference in the declining relativity index, but the broader upward trend remains upward amid the increasing institutionalization of the L1 network.

The price of Avalanche (Avax) tested the 27 dollar neckline from a double bottom on the daily chart, as it reached the highest level during the day 27.40 dollars before facing the rejection and pulled it to $ 25. Although the relative strength index remains difficulties at 64 years, the indication of continuous momentum, a closer look reveals a declining difference that is formed on the daily time frame.

Although the price movement printed the highest compared to July 21, RSI failed to do the same, which created the highest level. This difference indicates that the bulls lose momentum.

The last decline has been contained to $ 22.50 by EMA for 20 days, which is likely to serve as support again like Avax PRICE returning from the highest level. The good news is that the ups of the ups between EMA for 20 days and SMA for 50 days is still intact, indicating that the broader upward trend is still in playing. After this correction, AVAX may regain upward momentum and make another attempt to penetrate the barrier of $ 27.

Avalanche expands RWA’s institutional imprint

While the price of AVAX is dirty in the short term, strong basics indicate an increased institutional interest in the project. Yesterday, Grove Finance, an institutional credit protocol at Sky Ecosystem, announced that it will happen on the air, spreading up to $ 250 million in the real world’s assets to enhance Tokeenization Tokeenization Layer-1.

With major symbolic assets like Buidl’s Buidl and Franklin Templeton Benji, which already lives on the network, Avalanche continues to strengthen its location as a center of asset symbol in the real world.