 price has triggered a breakout from a multi-month falling wedge pattern. It was wandering around the 20-day exponential){kind=link}
- Avalanche (AVAX) price has triggered a breakout from a falling wedge, hinting a bullish momentum.
- The AVAX coin may gain 100% by December.
- Analysts believe the AVAX price may reach the $130 mark in 3 to 6 months and may eye for the $228 level.
The Avalanche (AVAX) price has triggered a breakout from a multi-month falling wedge pattern. It was wandering around the 20-day exponential moving average (EMA) for a few days. Analysts suggest that the AVAX crypto has the potential to reach the $130 mark in the next 3-6 months.
Does Avalanche Blockchain’s native token have the potential to show a solid rally to trade around its all-time high (ATH)? Let’s find out.
Top Crypto Analyst Makes Astonishing Growth Predictions for Avalanche (AVAX) Price
It recently launched a game, and the latest breakout has also created hype among investors and traders. Moreover, the AVAX price has witnessed consistent bullish momentum since August.
CryptoBullet (@CryptoBullet1) is a well-known trader and market analyst who has shared a significant analysis of Avalanche crypto. The expert claims that the Avalanche (AXAX) price is expected to reach the $130 mark in the next 3-6 months. It may also go for the next target of the $228 mark.
How the Avalanche Price May Perform in Q4 2024?
The Avalanche (AVAX) price was trading at $27.12 at press time with an intraday loss of 1.77%. Its market capitalization was $11.03 billion, and it ranked 12th in the cryptocurrency market. The 24-hour trading volume was $269.58 million, with a fall of 7%.
After a bearish trend, the AVAX price took support near the $20 mark and witnessed slow and steady gains. The price has been rising by forming higher highs and higher lows, reaching the key moving averages.
If the price manages to overcome the 200-day EMA, it could be a bullish signal. Here, trading volume may play a vital role in the further momentum. If the chart structure attracts buyers, AVAX surges may take the price to the $55 mark by October.
Alternatively, if the digital asset price faces resistance from the $200-day EMA, sellers may take over and may melt to the $20 mark. Assuming the price starts trading below the $20 mark, it could trigger a strong bearish momentum for the next few weeks.
As per technical indicators, the price was wandering around the key moving averages, indicating a neutral forecast. The MACD and the Signal line were staying over the Zero line, hinting at a bullish forecast.
AVAX Price Analysis for 2025 and Beyond
According to analysts, the Avalanche (AVAX) price can trade positively in 2025, and it may range between the $23.23 and $126.01 levels.
August is the most optimistic month for AVAX, and it might trade at about $60.82 during that month. Thus, it will represent a 357.39% price increase from current levels. According to this prediction, Avalanche presents a solid investment option for both long-term and short-term traders.
In a weekly time frame, the AVAX price has triggered a breakout from a significant falling wedge pattern. Moreover, it has been consolidating for a few weeks in a narrow range. If it gets a bullish spark, it could attract buyers. Once the price departs from the $50 mark, it may extend to the $130 mark by 2025.
Suppose the cryptocurrency market remains bullish, the Avalanche (AVAX) price may maintain its bullishness beyond 2025. During this momentum, the price may record a new all-time high.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
