The cryptocurrency (AVAX) Avalanche has caused a stir in the world of virtual money. It has risen to the top of the list of digital currencies thanks to its cutting-edge technology and quick transaction times. Many people are interested in the future of the Avalanche and whether its value will keep rising.
Ethereum’s rival cryptocurrency and blockchain technology is called Avalanche (AVAX). The Avalanche blockchain uses smart contracts to enable a range of blockchain applications, much like Ethereum, and AVAX is the native coin of this platform.
Because of the Avalanche blockchain, transactions can be executed almost instantly. AVAX protects the Avalanche network and serves as a fundamental unit of account across Avalanche blockchains as well as a way of payment for transaction fees.
INFO
- AVAX is the native currency of the Avalanche blockchain technology.
- In contrast to Ethereum, Avalanche prioritizes scalability and transaction processing speed.
- AVAX, which is also used to cover network transaction expenses, protects the Avalanche blockchain.
- A governance model governs transaction fees and the rate at which AVAX coins are generated.
Prices
The most recent statistics show that Avalanche is currently trading at $13.37 and that AVAX is currently ranked No. 19 overall in the cryptocurrency sector. Avalanche’s price has dropped by 6.49% in the last 7 days. In the last 24 hours, the price has risen by 1.34%. In the last hour, the price has risen by 0.09%. The current price per AVAX is $1,093.83. The Avalanche is 90.87% of the way down from its all-time high of 11,975.98.
The current circulating supply of AVAX is 345,948,629.189. The all-time high for Avalanche (AVAX-USD) is $147.42. Avalanche (AVAX-USD) has a total supply of 432.67 million coins. According to our most recent Avalanche price projection, the price of Avalanche will climb by 0.17% to $13.30 by July 31, 2023. The present emotion is Bearish, according to our technical indicators, while the Fear and Greed Index is 51 (Neutral). Over the previous 30 days, Avalanche has had 15/30 (50%) green days and 4.63% price volatility. According to our Avalanche forecast, now is not the time to buy Avalanche.
Technical Analysis
Avalanche prices are currently trading at $13.18 and have gained 0.76% in the last 24 hours. With the FED’s markets rising rates again and whales sending 43.31K BTC to exchanges.
The Avalanche’s average social dominance falls to 0.5412%, a 42.32% drop. However, total social interaction has surged by 99.48% to 61.71 million.
Furthermore, based on the recent behavior of the average social dominance, we can anticipate another rise soon to push the AVAX price recovery.
Below is an automatic analysis that shows where the market is trending and where it may go in the future at various time intervals.
AVAX Analysis for the Week Chart
The Moving Average
Avalanche is currently trending negative on the weekly time frame, with the 50-day moving average sloping down and above the current Avalanche price, which could act as resistance the next time it interacts with it.
Index of Relative Strength
The RSI is currently in the 30-70 neutral zone, indicating that the price is trending neutral and will be able to hold the RSI in that state for some time.
MACD
There is no bearish or bullish divergence on the histogram. There is no signal for the histogram if there is no bearish or bullish signal divergence.
AVAX Analysis of the Daily Chart
The Moving Average
Avalanche is currently trending bearish on the 1-day time frame, with the 50-day moving average sloping down and below the current Avalanche price, which could work as a support the next time it interacts with it.
Avalanche’s 200-day moving average is rising upward and has been doing so since 6/27/2023, indicating a strong trend.
Index of Relative Strength
The RSI is currently in the 30-70 neutral zone, indicating that the price is trending neutral and will be able to hold the RSI in that state for some time.
There have now been no bearish or bullish divergence during the last 14 candles, indicating that the price will not reverse from current levels.
The cryptocurrency’s current value has grown by $0.56 in the last 24 hours.
AVAX has been steadily rising over the last seven months, increasing by 0.02%. Avalanche has recently proven tremendous potential, and now may be an excellent moment to invest.
AVAX’s price increased 14.26% in the last month, adding a staggering $1.81 to its current value. The currency has the potential to become a valuable asset if it continues to climb due to its quick development.
Avalanche has support levels of $ 13.10, $ 12.93, and the strongest at $ 12.76 based on today’s classical pivot point (P1) of $ 13.28. Avalanche resistance levels are also at 13.45, 13.62, and 13.79.
Prediction
The price of AVAX in August 2023 has been predicted by cryptocurrency specialists. During this month, the lowest trading cost might be $11.36, and the maximum could be $13.77. On average, the value of the Avalanche is projected to be approximately $12.57.
7.4% potential ROI
Avalanche prices are predicted to be between $31.38 and $38.20 in 2025. The projected trading cost is $32.52 on average.
Conclusion
Our Avalanche AVAX price prediction for 2030 indicates that by the end of the year, the cryptocurrency’s value may reach a low of $253.50. However, we estimate a $262.72 average selling price and $310.05. maximum forecast price.