Avalanche price prediction
Investing in cryptocurrencies requires a clear understanding of a coin and its underlying value. One of the most popular techniques used to evaluate a coin’s performance is technical analysis. Technical analysis uses similar data points and elements to determine the potential returns of a coin and the time required to reach the anticipated price. Technical analysis was used to carry Avalanche (AVAX) price prediction 2021. In this article, you will see key metrics that were considered when putting forward AVAX prices in 2021.
The Crypto market has had a troubling time these past months. However, it appears to be recovering fast. Within the last two months, the market has experienced a steady rise and some coins are likely to reach an all-time high before the year ends. This has got the investor community for Avalanche excited. What most investors are wondering is if avalanche will experience a similar price surge? Let’s find out.
What is Avalanche?
Avalanche (AVAX) is the fastest smart contract blockchain platform. It has the most validators that help the platform deliver a highly scalable blockchain without forgoing security or decentralization. Avalanche developers focused on making the platform eco-friendly. Besides, the platform is also popular for low transaction costs and high speed. Any smart contract-based application on Avalanche has an excellent opportunity to gain an edge over its competitors.
Ava Labs launched Avalanche in 2020 and the cryptocurrency values rose very quickly. In less than two years, Avalanche (AVAX) platform has been developed to host more than 200 individual projects, more than $14 million AVAX burned, over 1,000 block-offering validators and over 600 investors community in the world. In the last few months, AVAX has shown an upward growth path. So, could Avalanche be profitable crypto in 2021?
Current Avalanche market status
Avalanche is currently trading at $122.5 in terms of its USD rate with a 24-hour hour trading volume of $2,245,266,373. In just a day, AVAX experienced a 3.07% increase in value. In addition, Avalanche has amassed a total market cap of $220,286,577.21. These skyrocketing values have made AVAX rank just outside the top ten cryptocurrencies. If you invest in digital assets, you should check out the best trading platforms to get good returns. Some of the best digital assets trading platforms for Avalanche are Huobi Global, OKEx, Mandala Exchange and Binance.
Avalanche (AVAX) price analysis 2021
According to CoinMarketCap reports, Avalanche is currently trading at the 11th position of the top cryptocurrencies in the market. Besides its outstanding performance, the blockchain is still making developments for greater scalability. Currently, developers have hundreds of upgrades in progress. Once they are all complete, Avalanche will gain a competitive edge over other performing cryptocurrency blockchains. However, will this help AVAX price reach higher?
Well, it is evident that Avalanche has positioned itself with the heavy coins in the market according to the 2021 AVAX price prediction analysis. Avalanche is currently trading at $63.88. This is a higher price than what AVAX cost during the market crash. In addition, the AVAX price is surging forward and is expected to continue rising to set a new all-time high hopefully before the year ends. Based on the price prediction, Avalanche has indicated higher highs and higher lows. This price pattern shows growth potential and it also represents a short term bullish.
Significantly, Avalanche is fully gearing itself for market rallies in the future. This means that AVAX has what it takes to overcome all resistance levels and ultimately reach its bullish price. Notably, demand and supply factors usually influence the direction of the cryptocurrencies market. Therefore, for AVAX to reach its bullish price, the market bullish has to continue residing with Avalanche. On the downside, if market bull prices do not favour AVAX, its prices could drastically fall. If this happens, Avalanche will break its uptrend position and instead adopt a declining path to a bearish price. In the process, Avalanche would lose most of the investors.
Further, the price prediction analysis showed that AVAX Relative Strength Index is at 56.06. This means that AVEX has precisely enough investors to trade it forward. Even so, traders should always research a cryptocurrency before placing any funds on it. Otherwise, they will get worried anytime there is a major price reversal. After all, market hype often misleads investors about a coin only for them to encounter massive losses when the hype of a coin dies and prices fall.
Avalanche price prediction 2021
AVAX has performed incredibly in the past few days. It is depicting a bullish trend in December based on the price prediction chart. According to the technical analysis report, the price will break its resistance level of $182.57 and surge to an all-time high of $252.21. However, this will only happen if investors do not turn against AVAX in the next few days. Consequently, the bear might push the Avalanche price off its uptrend path if the investors’ community is no longer excited about the cryptocurrency. Such a pattern will see prices fall to $113. For a potential cryptocurrency like Avalanche, this could be a worrying bearish signal.
Fortunately, the decline in prices is not likely to happen in the case of Avalanche. Price prediction has shown that the AVAX price will be bullish in the long term. As soon it breaks its previous psychological resistances, Avalanche has limitless opportunities to reach new heights and outperform its competitors.
Avalanche price prediction 2022
Following the current trend in prices, it is possible for AVAX to reach $300 by the end of 2022. However, this will not be the year’s all-time high. In the early months of 2022, AVAX prices will trade as high as $350. Avalanche will not sustain the levels and the prices will slightly fall back to $300. Fortunately, there is no other major price fall are anticipated. Developers are targeting upcoming partnerships and developments to help them grow Avalanche’s value. Besides, crypto has strong fundamentals and reaching this target in the future is certainly possible.
Avalanche price prediction 2023
High prices will consequently increase Avalanche market capitalization. The general feeling is that higher market value indicates stable cryptocurrency which makes it a good long-term investment. A market value of $200 and above will attract more investors to the blockchain. In return, the investors will help surge the prices to $500.
Avalanche price prediction 2024
Based on technical analysis results, AVAX will still maintain the bullish trend it is showing right now. There is a possibility the price will reach $650. Of course, by 2024 a lot of changes will have happened on Avalanche blockchain and hundreds of others will be underway. Investors should expect new integrations on the platform.
Avalanche price prediction 2025
Avalanche’s short and long-term targets could influence the purchase and sale of orders. Price Prediction reports that the AVAX prices could reach $800 in the next 4 years. This means that AVAX will reach a new ATH within the next 5 years given the current uptrend.
Conclusion
It is evident from the technical analysis results that AVAX has a promising future in the long run. It has excellent transaction speed and reasonable prices that will help reach the critical mass. Besides, taking the 11th position has created hype in the investor community and reaching $300 next year does not appear too lofty goal anymore. If you want a longer investment horizon, then Avalanche is an excellent option.
