- The Avalanche(AVAX) has been flashing bullish signals and closed the previous day’s trade at $13.15 with a market capitalization of $4.03 billion and a circulating supply of 310.09 million AVAX.
- The AVAX price has been trading within a descending trend for a long time and hence with frequent bullish waves, the price currently is manifesting its strength being self-assured of bullish breakout very soon.
Avalanche (AVAX) PRICE & Technical ANALYSIS
|AVAX Price Prediction for Today||$13.23|
|14 Day RSI||45.02|
|Fear and Greed Index||27 (Fear)|
Additional Read: Top Altcoins 2022
Avalanche Technical Analysis for the Month
- After the massive fallout in May 2022, the AVAX price rebounded fairly and was on its way to regaining the lost levels. However, the price was further subjected to a massive fall forming consecutive lower highs and lows.
- The AVAX price crashed heavily with the collapse of the FTX exchange, post to which it traded sideways within narrow ranges.
- The price is currently trading within a falling wedge and testing the lower support of the channel, meanwhile, appears to be poised for a massive upswing here after.
- With a jump in the prices, the token may initially reach close to $16 and face a minor pullback. However, it could resume with a firm upswing marking the December highs around $22.
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Avalanche Technical Analysis at a Glance
Avalanche price has been heavily impacted with the bearish market movements that prevailed throughout the year 2022, slashing from the levels close to $150 to as low as $11.5. However, the price continues to find new lows as the bottoms are yet to be reached. Once the bottom is in, the token is believed to undergo a massive upswing in 2023 and years to come later. Therefore, the AVAX price may certainly reclaim the levels around its highs and also form a new ATH very soon.
|Short Term(4hr)||The November drop dried up all the volume and hence the AVAX price is believed to consolidate within a stagnant trend|
|Mid-Term(1D)||The price is attempting very hard to rise above bearish captivity, but the bull does not appear to be strong enough to uplift the price|
|Long-Term(1W)||The selling pressure has wanned and with an influx of huge bullish volume, the AVAX price may lay down a firm upswing|
Will AVAX Price Reach $15 Today?
The AVAX price has largely remained incremental after the price marked interim lows at around $12. The price closed the previous day’s trade on a bullish note, which was further carried out to mark daily highs above $13.3. Since then, the AVAX price appears to have stuck and trading around $13.
The volatility appears to have dropped, while the volume is within decent levels. Therefore, in such a case, the AVAX price is believed to rise after undergoing a minor consolidation. Hence, by the day’s end, the price could be trading around $13.8 to $14.5.
Will AVAX Price Reach $22 by the End of the Month?
After a bullish opening for the month, the price is believed to maintain a notable upswing towards the next target. However, after recording a bullish opening for the month, the prices could maintain a firm upswing for the first few days. However, the token has faced rejection multiple times around $13.37, dragging the price lower close to $12.5 each time.
Therefore, a break through these levels may validate a decent upswing thereafter.
However, the technicals in the short time frame and longer-time frame are pretty bullish, mainly due to the absence of bearish influence. Therefore, could maintain the current consolidation and attempt to rise high to surpass $15 initially and later try to achieve levels close to $20 by the end of the monthly trade.
Avalanche Price Prediction: Price Trend Comparison with Ethereum (ETH)
- Avalanche is a layer-1 blockchain, aiming to dethrone the Ethereum network for smart contracts.
- Both the price trend maintained a parallel consolidation with nearly equal price variations on the equal sides
- The ETH/USDT price raided from the bottoms at -31.57% to reach the recent highs at around -18.52% and presently trading at -19.76%.
- Besides, AVAX/USDT price rebounded from the lows around -36.34% and spiked high to reach -26.96% and trading at -28.30% at the moment.
Read more: Ethereum Price Prediction
Avalanche Price Prediction: 2022, 2023, 2024, 2025
Avalanche prices displayed a monstrous rally during the 2021 bull run and marked remarkable highs. However, the bear market that followed dragged the price close to a single-digit figure. Meanwhile, the bulls remain passive waiting for the right time to enter, when the bearish clouds could have faded notably.
Once the bull run is triggered, the AVAX price is expected to maintain a steep upswing until it reaches a 3-digit figure. Hence, the bulls are expected to take over the rally in the next few years and maintain a notable upswing thereafter.
|Year||AVAX Price Forecast|
|2022||$19.5 to $22|
|2023||$43 to $58|
|2024||$70.5 to $103|
|2025||$99 to $112|
Additional Read: AVAX Price Prediction 2025
Avalanche News Today
- Avalanche platform unveils $4 million incentive program for the decentralized trading platform GMX
Avalanche Rush, the largest DeFi rewards program, continues to run with full force!
✅ GMX is a decentralized perpetual trading platform
✅ GMX is adding $4 million in rewards for traders
✅ Rewards are added to Avalanche Rush
— Avalanche 🔺 (@avalancheavax) November 29, 2022