In 2021, alongside Solana, another project stood out in the cryptocurrency world: Avalanche (AVAX). AVAX experienced a remarkable surge but then faced a sharp decline. At the beginning of 2023, AVAX was trading at single-digit prices. Today, investors are wondering: Will AVAX rise again?
AVAX Comments
Although AVAX’s price gained strong upward momentum in 2024, it started to decline again. Despite this, it still holds above $20 but remains 83% below its all-time high. Analysts remain optimistic. Two analysts shared their opinions on this subject. Daniel Ramsey commented on social media: > 'AVAX/USDT Mid-Term Target: I expect more correction and will start accumulating AVAX between $16.40 & $22. Targets: $39, $55.8, $93.8.' The Moon stated that the descending wedge formation, existing for almost a year, might be breaking: > 'AVAX is ready to break out of this massive Descending Wedge that has been forming for almost a year! Possible mid-term targets: $28, $33, $41.3, $54.'
Current AVAX Value
Still 86% below its ATH, AVAX saw a 7% increase today, rising to $24.20. This rise was part of a 9.70% movement over the past 7 days. More importantly, despite significant declines, AVAX has increased by 11.30% in the last 30 days, which can be interpreted as moving contrary to the market.
Market Prospects for AVAX
AVAX’s market cap reached $9.8 billion, positioning it 12th in the market. Its trading volume increased by 36.40%, reaching $271 million, which may indicate that the recent rise in BTC has supported market activity.
Analysts highlight positive signs and potential growth for AVAX despite current market fluctuations. It remains to be seen if these expert predictions will come true.
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