The Avalanche token traded to intraday highs of $9.77 as bulls looked to breach the resistance at $10, but lacked the sharp movement some altcoins showed as Bitcoin pumped to above $82,000. While AVAX may yet struggle to climb above the psychological supply zone, the market’s repositioning amid the launch of regulated futures tied to the token could buoy buyers. Notably, analysts say the crypto market may be on the verge of an altcoin bounce. Avalanche (AVAX) futures go live on CME Avalanche’s price has not rallied as Toncoin, Zcash, and others have in the past 24 hours. However, bulls are holding up with intraday gains near $10. This comes as AVAX futures go live on the CME, the world's largest derivatives exchange. The exchange listed standard contracts covering 5,000 AVAX, and micros covering 500 AVAX on May 5. Both are cash-settled in USD via the CME CF Avalanche-Dollar Reference Rate. Avalanche now joins BTC, ETH, SOL, XRP, ADA, LINK, XLM, and SUI in the CME suite. Elsewhere, the top coins have flipped positive in terms of ETF inflows, and AVAX could follow as institutional demand surges. Tokenization milestones Listing on CME marks another institutional milestone for Avalanche. As well as spot ETFs, Avalanche boasts digital asset treasuries holding AVAX and major integrations for tokenization. BlackRock announced a $500 million tokenized fund on Avalanche infrastructure, and Progmat, Japan’s largest tokenization firm, migrated to a dedicated Avalanche L1, a move aimed at bringing more than $2 billion in assets onto Avalanche infrastructure. Meanwhile, Broadridge Financial Solutions launched an Avalanche L1, with this aimed at bolstering proxy voting and shareholder governance. Despite the overall traction across real-world assets and tokenization, the AVAX price has recently remained logged below the crucial supply zone. Avalanche price forecast From a technical perspective, AVAX is still trading in a tight range, with resistance at $9.80-$10.45. Avalanche price chart by TradingView Analysts at Santiment now say “some mild whispers of altseason are beginning to emerge.” Notable altcoins that are showing this outlook include Toncoin, Internet Computer, Cardano, Sui, and Ondo. “Bitcoin’s own emergence above $81.7K has allowed profits to begin trickling into long-dormant projects,” Santiment posted. If BTC stays firm, CME’s futures launch and Avalanche’s expanding L1 and tokenization footprint could help AVAX defend the $9. Gains could allow bulls to attempt a gradual recovery. A clean move above the supply wall band could open a path toward the 200 exponential moving average ($12.35) and then the local peak at $14.90-$15.50. However, broader risk asset trends remain a key driver for the sector. For cryptocurrencies, altcoins typically struggle to extend gains when BTC is choppy or risk appetite fades, and such an outlook could see AVAX revisit support around $9.00 and at $8.30. The post Avalanche price forecast as AVAX futures launch on CME appeared first on Invezz
