Avalanche (AVAX) slides below $7 as Bitwise ETF removal pressures market

Avalanche's native token AVAX was trading near $6.71, down roughly 1% over the past 24 hours, after Bitwise Asset Management removed it from its flagship Bitwise 10 Crypto Index ETF and added HYPE in its place. The exclusion reduced the coin's institutional visibility and contributed to renewed bearish sentiment.

Technical analysts note that AVAX is hovering between resistance at $6.90‑$7.00 and support near $6.50‑$6.30, with a key $6.327 level that must hold to sustain the current upward pattern. A breach below $6.50 could trigger a slide toward $5.65, while a clear close above $7 might revive buying interest. In parallel, Ava Labs announced a partnership with NEC to develop biometric‑verified blockchain identity solutions, which could broaden the ecosystem’s use cases beyond price movements.