Avalanche (AVAX) has seen the formation of cup and handle patterns on its daily charts. As a result, it may cross the $32 and $41 price levels in the near term. Further, based on an expected increase in fundamental growth, AVAX looks at a 1296% growth by the turn of the decade, i.e., 2030.
Meet Kaspa, revolutionary Layer-1 blockchain on BlockDAG protocol.
What is Avalanche?
Avalanche is a smart contract platform used for developing all kinds of blockchain infrastructure like Dapps, DeFi platforms, Liquidity pools, RWA platforms, and much more.
At present, AVAX is the 12th largest crypto with a $11 billion market cap.
Fundamental Analysis
As the demand for smart contracts increases, platforms like Ethereum, Cardano, and AVAX will witness a surge in demand. The market is expected to grow by 81.9% CAGR.
New-age blockchain applications like on-chain business contracts, usage of escrow services, tokenization of supply chain, and RWA are expected to be major contributors to this demand.
However, a lot of seasoned market experts think AVAX is the best among all of them.
Technical Analysis
Avalanche has seen the formation of a “Cup and Handle” pattern on its daily charts. The formation has been completed and is expected to take it above $32.
AVAX/USDT 1-Day Charts on Tradingview
Further, both RSI and MACD have been showing near-term bullishness.
The daily charts of AVAX show the RSI at 62, which is still in bullish territory despite a correction from 65 in the last two days.
MACD too has shown a positive momentum going forward. The indicator showed a positive (bullish) crossover on 08 September 2024, and since then AVAX has been on an uptrend.
Avalanche Price Prediction
The short-term targets for AVAX are $41 followed by $65. In the long term, by 2030, AVAX could reach $350 to $400.
Investing for the long term, here’s a proven 100x candidate Mantra (OM).
Price Prediction 2024
A rally in AVAX could take it above $32 by the next month.
The succeeding rally resulting from the first one could take AVAX even higher towards $41 which could be its highest level in 2024 under current market conditions.
However, an Altcoin Season could help it reach $65 and beyond by the end of this year.
Want to become a master of technical analysis? Here’s a way to start.
Price Prediction 2025
Avalanche has a very low chance of recapturing its 2024 highs. However, in the year 2025, its price could grow well beyond these levels and reach $70 if the alt season is sufficiently bullish.
Price Prediction 2026
As crypto markets peak in 2026 at the end of Alt Season, Avalanche could see a high up to $100. We have kept this price lower because an early alt-season peak in 2026 could trigger market corrections in the later part of the year.
Price Prediction 2027
If markets correct heavily, AVAX may end up falling to $50 levels. Otherwise, it may end the year at a price zone of $65 to $80.
Price Prediction 2028
The 2028 Bitcoin season could be a real game-changer for altcoins. Similar to 2024’s crypto market rally, the year will see a pre-halving rally which could take AVAX to $150 or above.
Price Prediction 2029
We expect another alt season to hit the markets in 2029 but sooner than they did in 2024. That alt season could take AVAX as high as $250 to $300 depending on its strength.
Price Prediction 2030
The year 2030 is expected to see the AVAX price above $300, potentially reaching $350. This could mark a growth of 1296%.
However, a lot would still depend on fundamental factors and governance decisions taken in the preceding years.
Do you know, just like “vitalik.eth”, you can also get “.btc” domains?
