Avalanche entered the crypto sector as a haven that houses smart contracts as far back as 2020. After its creation, it allowed developers to create decentralized applications and custom blockchains, among other things. Its developers, Ava Labs, created the smart contract platform to use a proof of stake protocol. In the last few years, the platform has provided a massive rival to Ethereum. This is solely down to its claims about being faster, more secure, and with massive compatibility with Ethereum and other chains as a plus. Besides these benefits, developers who aim to make their tokens can do so using the Avalanche platform. The platform will provide subnets to massive amounts of tokens during its design.

Avalanche price broke out of the descending triangle two weeks ago, breaking the trendline. A break of a falling trendline usually indicates a new uptrend. Since price has broken out of a pattern, we also have a formation target. The target of the triangle is around $192. Thus, the price could make a new all-time high with this uptrend. This would then be around $192, or even the psychological price of $200. There could be a brief correction during the rise. However, such corrections are healthy for price and are bullish rather than bearish when they occur.

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The Avalanche price could correct in the daily chart for the time being. The past few days have been consistently positive, however, the bulls appear to be lagging, leading us to expect a short-term correction. The Avalanche price has already found support on the trend line, which is why we do not expect any correction to the trend line. Instead, we expect a correction to the GoldenPocket, which sits at around $90. If you want to invest in Avalanche, you could start there, as this is a good entry point.

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Avalanche's current technical formation is looking very interesting. The highest target of around $140 was confirmed by hitting an ascending triangle and a double top formation. Avalanche price dropped later to $79.22 to confirm the break of resistance and established a new support. As a result, the price fell to the strong support. But how could the price continue in the future? Will we really go up 25% next? Let's tackle everything in this Avalanche price prediction!

After the Avalanche price has last corrected to the GoldenPocket and has thus completely corrected the last ABC sequence, the next step could be that the price will rise to the GoldenPocket of the last downward movement (correction). This GoldenPocket is located at around $111. However, we have a resistance in front of the GoldenPocket. This target would be around $100. In fact, this coincides with the 0.5 Fibonacci level and psychological resistance. If we break this level, the price could rally to $111 quite quickly.

As Avalanche price broke the downtrend line, we also expect it to make a new all-time high. So we also assume that the GoldenPocket will break. The lower GoldenPocket, where we found support most recently, has far more significance as it is higher-level. As this has held, the overall trend (uptrend) is likely to continue. Since the current high is an all-time high, the Avalanche price could make a new all-time high soon.

On the other hand, reaching a price of $200 in the short term looks a bit far off. With the current cryptocurrency market consolidating, AVAX would find it difficult to double in valuations. The entire crypto market should be making new highs for AVAX to be able to reach $200 in such a short timeframe.