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Avalanches native cryptocurrency, AVAX, has encountered a significant downturn, with its price plummeting by 15% in the past week alone. The latest 24-hour period saw an additional 4.54% correction, dropping the price to $24.69. This recent decline has dragged the market cap to $9.7 billion. Over the past month, AVAX has corrected by a staggering […]
Avalanche (AVAX) shows remarkable resilience by maintaining support levels and gearing up for a potential upward surge. Despite a significant 12% decline over the past week, largely in line with prevailing bearish market sentiment. Avalanche remains a focal point of optimism among analysts; they foresee a substantial uptrend in AVAX’s price trajectory. Amidst a broader […]
Cryptocurrency analyst Jonathan Carter has brought attention to recent movements in Avalanche (AVAX), indicating a possible upswing for the digital asset. AVAX has retraced toward an ascending support range between $30 and $31, signaling the initiation of a consolidation phase and suggesting stability in its price action. Carter’s analysis highlights that Avalanche (AVAX) is testing […]
Global banking giant Standard Chartered published new five-year price projections for three leading cryptocurrencies: Avalanche (AVAX), Bitcoin (BTC), and Ethereum (ETH). According to these forecasts, Avalanche is poised to gain significant ground on both Bitcoin and Ethereum by 2029. Ryan Rasmussen, Head of Research at Bitwise, drew attention to these ambitious targets via X. Global banking giant Standard Chartered just published 5yr price targets for Bitcoin, Ethereum, and Avalanche, Rasmussen wrote, pointing to a chart that outlined the banks estimates. Standard Chartered expects Avalanche (AVAX) to reach $55 by the end of 2025, $100 by 2026, $150 by 2027, $200 by 2028, and ultimately $250 by the end of 2029. This projected growth represents a more than 1,200% increase from its current trading level of around $20. Meanwhile, Bitcoin (BTC) updated its forecast and now projects BTC to appreciate from $200,000 in 2025 to $300,000 in 2026, followed by $400,000 in 2027, and finally hitting $500,000 in 2028a level it is expected to maintain through 2029. For Ethereum (ETH), Standard Chartered projects the token to hit $4,000 in 2025, $5,000 in 2026, $6,000 in 2027, and $7,500 by 2028, with no change anticipated in 2029. The forecast indicates steady but less dramatic growth relative to Avalanche. Related Reading: Avalanche 12-Hour TD Sequential Flashes Sell Signal After Nailing 50% Rally Details In terms of comparative valuation, the bank provided ratio metrics to show how AVAX might perform against BTC and ETH. The BTC-to-AVAX ratio, which measures how many AVAX tokens equal one BTC, is expected to drop from 3,636 in 2025 to 2,000 in 2029. This decreasing trend implies that AVAX will appreciate faster than Bitcoin over the period. Similarly, the ETH-to-AVAX ratio is projected to decline from 73 to 30 during the same timeframe, pointing to a similar outperformance against Ethereum. Standard Chartereds Bullish Case For Avalanche Standard Chartered has initiated coverage of Avalanche, stating it expects AVAX to rise from its current price of roughly $20 to $250 by the end of 2029. One positive of the tariff noise is that it gives us a chance to re-set and pick winners for the next upswing in digital asset prices, said Geoffrey Kendrick, the banks global head of digital assets research, in an email to The Block on Wednesday, referencing his latest report. And I think Avalanche will be another winner, perhaps the winner in EVM [Ethereum Virtual Machine] chains. Related Reading: Avalanche (AVAX) OverextendedIs A Market Shakeup Imminent? Kendrick emphasized that Avalanches approach to scalingparticularly after its Etna upgrade, also known as Avalanche9000positions the network for long-term success. Activated in December 2024, the Etna upgrade dramatically reduced the cost of launching subnets (which Avalanche now calls Layer 1 blockchains), slashing setup expenses from up to $450,000 to nearly zero. Kendrick noted that these changes appear to be attracting new developer activity: A quarter of Avalanches active subnets are now Etna-compatible, and developer numbers have jumped 40% since the upgrade. He also mentioned that some developers are migrating from Ethereum Layer 2 solutions to Avalanche due to its compatibility with Ethereum code and the lower overhead for launching new subnets or L1 chains. While fees on Avalanche can still run higher than certain Ethereum L2s like Arbitrum, Kendrick believes attracting completely new applicationsespecially in fields such as gaming and consumer-focused toolswill be critical to Avalanches growth. As a result, we see AVAX outperforming both Bitcoin and Ethereum in terms of relative price gains in the coming years, Kendrick remarked, while noting Avalanches higher volatility levels compared to BTC. At press time, BTC traded at $83,334. Featured image created with DALL.E, chart from TradingView.com
Avalanche (AVAX) is regaining bullish momentum after weeks of extreme volatility, rising alongside a broader crypto market recovery. Trading near $21.82, Avalanche shows signs of building strength, with traders now eyeing a breakout move toward $23. AVAX Gains Strength Amid Market Recovery Following a rocky period driven by macroeconomic stress, AVAX is finding renewed momentum. […]
AVAX is currently trading at $18.78, down by 6.01% in the past 24 hours. The trading volume has also declined by 14.96%, settling at $250.58 million. The short-term dip notwithstanding, the cryptocurrency has registered a 15.46% seven-day rise, testifying to growing prominence in overall market action. Technical analysts offer contradicting indications. According to the analyst, […]
Avalanche (AVAX) is up by 30% after rebounding from a significant support level. The price is currently at $20.20, way beyond many of its lows in the recent past, though it has trended downwards in a long-term analysis. Rose Premium Signals drew attention to the fact that AVAX was in the process of emerging from […]
Avalanche (AVAX) is on a bullish trend after a long time of volatility. AVAX is experiencing a surge in its price with the overall market due to the recent surge in BTC price. Recently, the whole market has moved from bearish to bullish. AVAX is among the coins that enjoy this trend reversal. AVAX saw […]
Avalanche (AVAX) recently experienced a breakout, successfully overcoming a major obstacle at $13. This particular hurdle had proven to be a significant challenge for AVAX bulls in the preceding weeks, hampering their upward momentum. The surge in AVAX’s performance can be attributed to multiple factors, one of which is the increasing demand for the wrapped [...]
The post Avalanche (AVAX) Rumbles With 18% Gain – Is A Trend Reversal On The Horizon? appeared first on Crypto Breaking News.
AVAX, the native token of Avalanche blockchain, has been making headlines lately as the Avalanche NFT transfers soared to record figures in the month of April alone. As the blockchain world continues to expand, the surge in NFT transfers on the Avalanche network raises a burning question – Will this help AVAX price go up? Let’s explore the possibilities. Related Reading: Total Ethereum (ETH) Locked Hits New Highs On Increase In Deposits Over Withdrawals AVAX NFT Collections, dApps Gain Traction On Avalanche Network The AVAX token is set to benefit from the latest surge in NFT transfers on the Avalanche network, which has seen over 2 million NFT transfers in April alone, five times greater than March. This trend can be attributed to the blockchain’s fast and low-cost transactions and scalable platform, which has made it a preferred choice for NFT creators and collectors. $AVAX NFTs are smashing records! In April alone, the @avax network recorded over 2 million transfers — 5 times more than the previous month of March! pic.twitter.com/3z59MkGUc3 — Emperor Osmo?? (@Flowslikeosmo) April 23, 2023 The surge in Avalanche NFTs can also be traced to the popularity of blue-chip AVAX NFT collections such as Chikn and Doggerinos, which have experienced significant volume spikes in recent months, according to AVAX NFT Stats. The growing interest in the Avalanche network has also translated into a rise in activity on dApps such as Trader Joe, a leading DEX on the network. As a result, the Avalanche network has seen a substantial increase in transaction volume and quantity, suggesting that AVAX is poised to gain further traction in the blockchain and crypto space. In the past month, Trader Joe has seen a 184% surge in the number of unique active wallets on its platform, reflecting the increasing demand for decentralized trading on the network. The future appears promising for the AVAX token, as more users explore the platform’s potential for NFTs and dApps. So-So Performance By AVAX The AVAX token’s performance has been somewhat lackluster in recent days. Over the past week, the price of AVAX has experienced a substantial decline of 20.65% according to CoinMarketCap. Despite this, it has managed to gain 1.17% over the past 24 hours and is currently trading at $16.97. Source: CoinMarketCap The mixed results on the Avalanche network suggest that while there is growing interest in NFTs and dApps, there are still challenges to overcome. The decline in active addresses may be a reflection of users exploring other platforms or simply taking a break from trading on the network. Related Reading: Floki Inu Joins Binance.US And Surges By 50% As Investors Pile In AVAX Network Sees Mixed Results Despite NFT And dApp Activity Meanwhile, the Avalanche network has witnessed a surge in NFT transfers and increased activity on its dApps, the overall number of daily active addresses on the network has declined in recent weeks. According to data provided by Artemis, and reported by AMBCrypto, the number of active addresses on AVAX fell from 79,740 to 75,000 in the last 30 days, resulting in a decrease in the number of transactions being made on the network. Source: Artemis AVAX total market cap currently at $5.5 billion on the daily chart at TradingView.com -Featured image from BuyNFT.com
Avalanche’s native cryptocurrency, AVAX, experienced a significant breakthrough when it successfully surpassed a crucial barrier at $13. This obstacle had proven to be a significant challenge for AVAX bulls in the previous weeks, hindering their upward momentum. However, drawing inspiration from Bitcoin’s impressive surge past the $30,000 mark, AVAX followed suit and decisively shattered this [...]
The post AVAX Breaches $13 Barrier With 16% Rally – What’s The Next Price Level To Watch? appeared first on Crypto Breaking News.
What is the AVAX price prediction in the first quarter of 2023? Can Avalanche price hit $100 in 2023? Let's take a look at it
The latest AVAX price rally comes on the heels of Avalanche’s partnership with Amazon Web Services as the cryptocurrency market rebounds.
Avalanche price skyrocketed 35% from $12.23 to $16.55 mid-week. This followed the news that Ava Labs, the company behind the Avalanche blockchain project, had partnered [...]
Avalanche price has sustained its bullish stance mid-through the week’s trading, increasing 1.5% in 24 hours. The Layer-1 token teeters at $12.54 at the time [...]
Avalanche price experienced a difficult streak across November as a dark cloud covered the crypto industry. Nevertheless, the overall crypto market seems to have positive [...]
AVAX price continues to trend downwards as price remains bearish with price trading on key support. AVAX trades below 50 and 200-day Exponential Moving Average as price struggles to regain bullish signs. The price of AVAX needs to break and hold above the key resistance of $30 to resume bullish price movement. The price of Avalanche (AVAX) continues to struggle to discover its bullish trend as the price fails to break the key resistance of $30 against tether (USDT). The previous weeks saw the crypto market cap as good as Bitcoin (BTC) prices and other crypto assets. Still, the price of Avalanche (AVAX) continues to struggle to join the green party as the price continues in its downtrend movement. (Data from Binance) Related Reading: Why SHIB Price Lost Its Bullish Energy After Shiba Eternity Games’ Release Avalanche (AVAX) Price Analysis On The Weekly Chart. Despite showing some great price movement in recent weeks with so many traders and investors becoming interested in the different projects being built on the Avalanche ecosystem, which could have been a huge boost for the price to trend higher but that wasn’t the case the price has struggled to trend higher than $30. After the price of AVAX dropped to a weekly low of $15, the price rallied from this low to a high of $30, where the price faced resistance to breaking above this region to a height of $50 as the price was rejected and has since maintained a bearish price movement. The price of AVAX bounced from $18 haven faced rejection from $22, but the price could not trend higher as the price continued to trend in a downtrend. If the price of AVAX continues in this trend, we could see the price retesting support area at $10. Weekly resistance for the price of AVAX – $21. Weekly support for the price of AVAX – $15. Price Analysis Of AVAX On The Daily (1D) Chart In the daily timeframe, the price of AVAX continues to trade above key support formed in recent weeks when the price dropped from a region of $45 to a daily low of $15. The price of AVAX continued in its downtrend, moving in a range as the price has formed a descending triangle with what looks like a break out to the upside could be imminent. The price of AVAX needs to rally away from key support to avoid price dropping to a low of $10 if the price breaks to the downside of the descending triangle. The relative strength index for the price of AVAX on the daily chart shows the price being dominated by sell orders as the mark is below 50. Daily resistance for the AVAX price – $18. Daily support for the AVAX price – $15. Related Reading: TA: Bitcoin Price Slides Below Key Support Amid Russia-Ukraine War Escalation Featured Image From The Coin Republic, Charts From Tradingview
AVAX price ranges below 50 and 200 EMA on the daily timeframe. Price continues to maintain a downtrend as it aims to break out to the $20 range. AVAX price closes attempting to break out of its downtrend on low timeframe. Avalanche (AVAX) price has failed to sustain its head high above the blood bath of the bear market against tether (USDT). With what proved to be a major run for the price of Avalanche (AVAX) from a low of $10 to a high of $145, many predicted the AVAX project causing a major upset for many crypto projects. The statistics from the coupled Consumer Price Index (CPI) and Federal Open Market Committee (FOMC) have affected the market negatively, with AVAX prices not exempted. (Data from Binance) Related Reading: Polkadot Price Watch: What A Drop In This Key Area Can Mean For DOT? Avalanche (AVAX) Price Analysis On The Weekly Chart The price of AVAX has continued to decline as there seems to be no hope of a major bounce after losing its weekly support of $25 as the price looks to reclaim its $10 support on the weekly chart. The price of AVAX continues to hold above a key support area of $10; the price of AVAX needs to break its downtrend that has been maintained for weeks. A break would see the price retesting $20-$25. For the price of AVAX to restore its relief, the price needs to break and hold above the $20 resistance preventing the price of AVAX from trending higher. If the price of AVAX keeps rejecting $20, we could see the price going lower. Weekly resistance for the price of AVAX – $25. Weekly support for the price of AVAX – $15-$10. Price Analysis Of AVAX On The Four-hourly (4H) Chart In the 4H timeframe, the price of AVAX continues to range in a downtrend line as the price attempts to break out. This could signal a relief bounce on a low timeframe. The price of AVAX trades at $17.4 below the 50 and 200 Exponential Moving Average (EMA), acting as resistance for AVAX price. The price of $17.7 and $20 corresponds to the resistance at 50 and 200 EMA for the price of AVAX. The price of AVAX needs to reclaim 200 EMA for a chance to trend to $25-$30. Four-Hourly resistance for the AVAX price – $20-$25. Four-Hourly support for the AVAX price – $17-$15. Onchain Analysis Of AVAX Although many investors and projects are building on the Avalanche network, it has experienced a difficult time in terms of price during the bear season. The price of AVAX, based on the on-chain data, is beginning to see a little relief over the last 24 hours compared to previous weeks. Related Reading: Bitcoin Shows Resilience In Dollar-Driven Bloodbath | BTCUSD September 26, 2022 Featured Image From Daily Hodl, Charts From Tradingview and Messari
Avalanche (AVAX) price breaches an uptrend lingering in the ascending parallel channel for two months now. AVAX price dips below the ascending channel, breaching an uptrend for two months Avalanche price slides further down to $25 Price tagged in the buy zone but lacks impetus to maintain the ascending parallel channel Even though AVAX was able to break above $30, the coin wasn’t able to fill in the cracks to $40. At first, support seen at $28 controlled the bears’ grasp on the price but AVAX price retraced at $26.22 and is in danger of plunging further down to $25 and $21. Related Reading: Dogecoin Jumps 15% In 24 Hours As DOGE Overcomes Critical Level Avalanche Price Slides Down To $25 According to CoinMarketCap, AVAX price has nosedived by 5.53% or trading at $25.89 as of this writing. AVAX faced hurdles as it muscles out with resistance spotted at $30. Bulls tried to sustain the upswing but the intense buying and selling pressure worked against AVAX. Inevitably so, the Parabolic SAR that hovers above the price heeled the scales towards the bears. With the support at $28 breached, the focus will now be reverted to the levels $25 and $21 which shores up the 100-day SMA. Now, trading below this level, the 50-day SMA could impel the AVAX price heading to buyer congestion seen at $21. As seen on the daily chart, the Stochastic oscillator beefs up traction to its downbeat standpoint as AVAX markedly dives under the midline. The continuous retreat of Avalanche price may not be interrupted due to a bearish divergence brought about by the Stochastic oscillator. Strong Sell Signal Seen On 4-Hour Chart The Super Trend indicators currently show an active sell signal depicted on the four-hour chart. Now, the sell signal may dim the probability of an AVAX recovery. The index shrouds the chart to look like a moving average but uses the ATR to measure volatility. As of press time, AVAX will continue to delve into the downhill range with the Super Trend indicator spotted above the price. Supposing the technical factors work against the AVAX price, many investors are confident that this is the best time to jump in. As seen on the daily chart, the readings spotted above the mean line indicate that Avalanche is magnified in value which hoists the possibility of pulling back as investors thrust into profiteering activities. On the other hand, any movement below that range would indicate underestimating the value of AVAX which signals that it’s the best time to buy. Related Reading: Polygon Seen Breaching $1 This Week – Can MATIC Start An Uptrend? AVAX total market cap at $7.38 billion on the daily chart | Source: TradingView.com Featured image from Al Bawaba, Chart from TradingView.com
Avalanche (AVAX) price may be a point of interest for many analysts especially since the gaming token is exhibiting formidable strength amid a bear market. AVAX price reveals a consistent ramping activity combined with a rise in price. Avalanche RSI reveals a breach on the overbought zone. High probability of breach can occur at the $50 barrier. Related Reading: Cardano Tests $0.51 Support – Can ADA Reach Safe Zone And Hit $0.67? AVAX Shows Solid Traction At $29.50 According to CoinMarketCap, AVAX price is currently swinging it at $29.50 and is showing immense bullish traction with an increase of 5.45% as of this writing. In the right market conditions, traders can anticipate high volatility. The token’s price may be ideal for scalping this month. Technical indicators on AVAX price are showing signs of a bull run. More so, the token’s RSI was able to breach the overbought zone. In addition, Avalanche’s Volume Profile Indicator shows a ramping pattern. With these technical patterns, it’s wise to conclude that AVAX price is on the calm phase awaiting the storm surge. A breach at $30.50 could be compelling enough to push the coin to new heights. The token’s first target is set at $40 and next will be at $50. If the technical patterns are truly bullish, then AVAX will not drop and breach liquidity levels that sit right under the swing low of $22. If this bearish trajectory happens, then this can impede the uptrend of AVAX price as the token can dip to $14 or even $10. AVAX Suggests Rounding Bottom Pattern Judging by the Avalanche on a daily chart, the rounding bottom pattern is quite prominent. With this pattern, AVAX had no problem breaking the resistance zone of $28.8, and aiming to go higher. But, the trades will have to ignore the supply pressure to provide a candle closing seen hovering above the barrier. The long-tail rejection spotted on August 8 implies that the sellers fought hard to defend the barrier set at $28.8. In addition, the daily chart also indicates Avalanche’s bullish crossover sliced in the middle of the 20-and-50-day EMA. AVAX intraday trading volume showed a pump in price of 6.68% or $891.6 million. Related Reading: Monero Faces Pressure In Keeping Upward Pace – Will XMR Overcome Resistance? The AVAX/USDT pair displayed a remarkable reversal in price movement after it slumped at $14.94 seen in June 2022. With this bullish action, the price also increased by 118% as seen in the past two months peaking at $30. The immediate price reversal formed a rounding bottom pattern with the neckline spotted at the $37 mark. The engulfing candle is extremely bullish and breached the $28.44 zone showing intensified buying activity. In spite of the bullish reversal, a candle spotted nearing the $28.75 level will be a pivotal sign that validates the formation of the rounding bottom pattern. AVAX total market cap at $8.4 billion on the daily chart | Source: TradingView.com Featured image from Forkast, Chart from TradingView.com
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