Avalanche Price Prediction: AVAX Set for Potential Breakout
The Avalanche (AVAX) price prediction may lack short-term momentum, but if the price increases, the coin could face moderate market volatility soon. Currently, AVAX is showing signs of a bullish trend despite recent market pressures.
Avalanche Prediction Statistics
- Avalanche price now – $28.46
- Avalanche market cap – $11.9 billion
- Avalanche circulating supply – 406.6 million
- Avalanche total supply – 446.6 million
- Avalanche CoinMarketCap ranking – #12
AVAX has demonstrated impressive long-term growth, rising 946.92% from its all-time low of $2.79 in December 2020. Although it reached an all-time high of $146.22 in November 2021, the current price range sits between $28.70 and $29.81 in the last 24 hours. Early adopters who entered at the start of the project have seen substantial gains, emphasizing the potential rewards of investing in emerging crypto projects early.
AVAX/USD Market Analysis
Key Levels
- Resistance levels: $33.0, $35.0, $37.0
- Support levels: $24.0, $22.0, $20.0
The current analysis of the AVAX/USD pair on the daily chart reveals a bullish structure forming, even as bearish pressure persists. AVAX has been in an accumulation phase since June, trading within a range of $20 to $30, with two false breakouts above the upper boundary. This prolonged consolidation indicates the price is building momentum for a potential breakout. However, significant resistance remains around the $30 level.
Avalanche Price Prediction: AVAX May Go Bullish
According to the daily chart, the Avalanche market may witness more bullish trends if the bulls increase pressure. This is supported by the technical indicator, as the 9-day moving average moves to cross above the 21-day moving average. The $30 level is critical as it represents both psychological and technical resistance, aligned with the value area high on the daily chart. A breakout above this level, especially with strong volume, could trigger a substantial upward move toward the resistance levels of $33.0, $35.0, and $37.0.
On the flip side, if the bulls fail to push the coin above the $30 level, the market may face downward pressure. Currently, AVAX is trading at $28.46, and any bearish movement below the daily low of $28.31 could lead to a serious downtrend. The key support levels to watch are $24.0, $22.0, and $20.0.
AVAX/BTC Market Analysis
Against Bitcoin, the Avalanche price is heading north, touching a daily high of 4675 SAT. The support level for this pair is built around 4500 SAT. The market price may continue to rise, as the 9-day moving average crosses above the 21-day moving average.
However, if AVAX slides toward the lower boundary of the channel, AVAX/BTC could hit the support level of 4100 SAT and below. A bullish movement above the upper boundary of the channel may lead to a new upward trend, potentially hitting the resistance level at 5000 SAT and beyond.
Expert Opinion on AVAX
According to @KingWilliamDefi on X (formerly Twitter), with AVAX priced around $29.25, it presents a good buying opportunity. He emphasizes the importance of leveraging DeFi strategies, as they can offer investors a 12-20% APY with minimal effort.
Alternatives to Avalanche
The AVAX price is poised for a bullish breakout, potentially crossing above the upper boundary of the channel as technical indicators show the strongest momentum since August. High weekend trading volume supports this prediction, and sustained volume in the coming days could push AVAX above the $30 resistance level.
Similarly, Pepe Unchained is nearing a significant milestone, with less than two days left before its price increase. The project has raised nearly $19.6 million in its presale, showing strong demand.
Pepe Unchained: Building an Ecosystem with High Demand
As retail investors prepare to return during the upcoming bull market, Pepe Unchained positions itself as a high-potential investment. Unlike established cryptocurrencies like Bitcoin or Ethereum, lower market cap meme coins such as Pepe Unchained offer the possibility of significant gains, with potential returns of 50x to 100x.
Ecosystem
Research
News Network
About