In December, the value of Avalanche increased by 115%

In December, the value of Avalanche increased by 115%

user avatar

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

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

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.

Other news

Grayscale's Zcash ETF to Implement 3-for-1 Forward Share Split

Grayscale has announced a 3-for-1 forward share split for its Zcash ETF, ticker ZCSH, to enhance accessibility for retail investors.

user avatarTomas Novak

Growing Interest in BRICS Membership

Many countries are expressing interest in joining the BRICS alliance, according to Russian Foreign Minister Sergey Lavrov.

user avatarKaterina Papadopoulou

XRP's Technical Indicators Point to Potential Bullish Momentum

XRP's technical indicators suggest a possible bullish crossover, despite a bearish death cross setup.

user avatarMaya Lundqvist

Crypto Market Sees Recovery as Bitcoin Surges Above 80,000

Crypto traders are feeling more optimistic today as Bitcoin has climbed back above 80,000 after a tough period marked by a Federal Reserve rate hike and a Senate vote against the Clarity Act.

user avatarLeo van der Veen

US Treasury Targets BitBank in Sanctions Evasion Crackdown

The US Treasury has sanctioned BitBank, an Iranian exchange involved in facilitating Bitcoin payments for shipping companies in the Strait of Hormuz.

user avatarLi Weicheng

Solana Reclaims 105 Price Level After Market Dip

Solana's price recently fell to 96 after a marketwide dip but has since rallied to reclaim the 105 mark, experiencing a 56% increase in the last 24 hours.

user avatarAisha Farooq

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.