Investors Track AVAX Price Trends

AVAX Price Analysis: July Movements and Future Predictions

At the end of July, Avalanche (AVAX) saw its price rise above $33. However, as of now, the price has dropped by approximately $12, and this decline could worsen if bearish pressure persists. This situation isn’t just speculative; it’s backed by data reflected in the charts.

AVAX On-Chain Insights

The In/Out of the Money Around Price (IOMAP) indicator has become crucial for predicting AVAX’s future movements. This on-chain metric highlights the addresses holding tokens profitably, at breakeven, or at a loss. Investors can leverage this data to gauge potential price directions. Generally, the more addresses at a specific price level, the stronger the support or resistance it provides.

For AVAX, the IOMAP data shows:

• 7.26 million tokens were purchased at an average price of $21.12 by 82,670 addresses, waiting profitably just above the breakeven point.
• 1.02 million AVAX were bought at $19.95 by 70,930 addresses, also in profit.

The area between these two levels stands out as potential points where sales might occur, and investors might choose to exit the market. If AVAX fails to maintain the $21 level due to high selling pressure, the next critical level could be around $19.62.

AVAX Price Prediction

Recent price movements suggest AVAX is performing at an average level compared to the broader crypto market. For example, the cryptocurrency experienced a 40% price correction between July 22 and August 6, causing concern among investors. Additionally, AVAX remains below the 20-day Exponential Moving Average (EMA) (blue). Typically, an asset trading above the EMA indicates an upward trend, while trading below suggests a downward trend.

Given AVAX’s current position below the EMA:

• If the bearish trend continues and bulls remain weak, AVAX could drop to $19.56.
• A failure at this price level might see AVAX fall further to $17.03.
• Conversely, a trend reversal could push AVAX’s price to $23.07.
• Continued upward momentum might see the price surpass the EMA level at $24.25, potentially reaching $26.64.