AVAX Comments and Analysis
Despite a strong upward momentum in 2024, AVAX’s price has faced a decline again. Currently, it holds above $20 but remains 83% below its all-time high (ATH). Analysts, however, maintain an optimistic outlook on AVAX. Recent statements from two different analysts have drawn attention in the market:
Daniel Ramsey’s Insights
Daniel Ramsey, commenting on X, provided an optimistic outlook and shared a chart with his predictions:
- Mid-Term Target: Expecting more correction and starting to accumulate AVAX between key levels of $16.40 & $22.
- Target Price 1 (TP1): $39
- Target Price 2 (TP2): $55.8
- Target Price 3 (TP3): $93.8
The Moon’s Analysis
Another commentator, The Moon, highlighted the potential breakout from a massive Descending Wedge formation that has been developing for almost a year:
- Potential Mid-Term Targets: $28, $33, $41.3, and $54.
Current Performance of AVAX
Currently, AVAX is 86% below its ATH but saw a 7% increase today, rising to $24.20. This increase is part of a 9.70% movement over the past week. More notably, despite significant declines, AVAX has risen by 11.30% in the last 30 days, indicating a contrary movement to the overall market.
Following this rise, AVAX’s market cap reached $9.8 billion, placing it 12th in the market. Additionally, its trading volume increased by 36.40%, reaching $271 million, which may suggest that the recent rise in BTC has supported market activity.
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