At the end of 2023, the price of the cryptocurrency Avalanche (AVAX) reached its annual peak, approaching the $50 mark. However, this was followed by a decline, with the lowest point on January 8, 2024. Since then, AVAX has begun to recover.

AVAX showed steady growth from September 2023, increasing by almost 500% over 90 days. However, after reaching its peak in December, Avalanche experienced a bearish breakout, dropping to $31.20. Despite this, a bullish signal was observed on the daily chart, indicating a potential price recovery.

Analysts and traders express optimism about the future of AVAX, noting an increase in daily active addresses and transactions, as well as the recovery of the total value of locked assets (TVL). Some suggest that AVAX could reach new highs, especially considering the recent burning of tokens and upcoming updates to maintain token supply deflation.

While AVAX is experiencing a period of uncertainty after its strong growth in 2023, analysts and traders maintain an optimistic outlook on its future. It is important to note that all information is presented for informational purposes only, and investors should make their own decisions.