In December, the value of Avalanche increased by 115%

by Max Nevskyi

3 years ago

In December, the cryptocurrency Avalanche (AVAX) exhibited substantial growth, more than doubling its value and achieving a new yearly peak. Since October, the price of AVAX has surged by 425%, reaching $46.40. This increase was accelerated by breaking through a 750-day descending resistance line that had been in place since reaching its all-time high.

Analysts and traders on the cryptocurrency platform X are optimistic about the future of Avalanche. For instance, Bluntz Capital predicts that the price of AVAX could reach $55, while Flash sets a target of $65, citing a bullish breakout of a long-term pattern.

According to Elliott Wave Analysis, AVAX is in the fifth and final wave of an upward movement that began in September. If the growth continues, the next target could be around $59, representing a 28% increase. However, if the price of AVAX falls below $44, it could indicate that the peak has been reached and the price might potentially drop to $22.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Ueno Digital Bank Collapse Revives Bitcoin Self-Custody Debate

The collapse of Ueno Digital Bank in Paraguay has sparked renewed discussions about financial independence and self-custody of Bitcoin, highlighting both the benefits and risks associated with managing one's own assets.