In a recent analysis, crypto expert Pascal has highlighted the promising long-term potential of Avalanche (AVAX), setting an ambitious price target of $100 based on Elliott Wave theory. As enthusiastically stated in the publication, this forecast comes at a time when the cryptocurrency market is showing signs of recovery and growth.
AVAX Positioned in Wave III of Elliott Wave Cycle
Pascal's analysis indicates that AVAX is currently positioned in wave III of the Elliott Wave cycle, which typically signifies strong upward momentum. This phase suggests that the cryptocurrency could experience significant price increases in the near future, provided the pattern unfolds as anticipated.
Support from Strong Fundamentals and Adoption
The bullish sentiment surrounding AVAX is further supported by the network's robust fundamentals and increasing adoption. As more developers and projects leverage Avalanche's capabilities, the demand for AVAX may rise, potentially driving the price towards Pascal's target. Investors are advised to keep a close watch on market trends and developments within the Avalanche ecosystem.
In a significant development, the US Department of Energy announced a $1 billion partnership with AMD to create advanced supercomputers, highlighting a strategic collaboration between government and private sectors. This initiative contrasts with the recent bullish outlook on Avalanche (AVAX) in the crypto market. For more details, see more.
