- Bullish AVAX price prediction for 2023 is $16.42 to $30.72.
- Avalanche (AVAX) price might also reach $45 soon.
- Bearish AVAX price prediction for 2023 is $11.57.
In Avalanche (AVAX) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about AVAX to analyze the future movement of the cryptocurrency.
Avalanche (AVAX) Current Market Status
| Current Price | $11.32 |
| 24 – hour Trading Volume | $108,577,396 |
| 24 – hour Price Change | 2.4% down |
| Circulating Supply | 311,582,142 |
| All – Time High | $144.96 (On November 21, 2021) |
What is Avalanche (AVAX)?
Avalanche (AVAX) is the native cryptocurrency of the Avalanche network. AVAX was launched in 2020. Avalanche is an open-source decentralized blockchain for creating dApps and customized blockchains. It is popularly known as the “winter-themed” ecosystem that holds AVAX, the “red coin.”
AVAX tokens have 3 primary use cases. Firstly, they serve as the transaction fee. They serve as the fundamental unit for all Avalanche’s subnets. Moreover, users can stake AVAX and earn these tokens as rewards.
Significantly, Avalanche comprises 3 interoperable blockchains with distinct functionalities and multiple subnets. Firstly, the Exchange Chain (X-Chain) handles the trading activities. Secondly, the contract chain (C-Chain) meant for creating dApps. Thirdly, the Platform Chain (P-Chain), meant for validating transactions and maintaining subnets.
Avalanche consensus protocol is distinctive. It is not completely based on the proof-of-work (PoW) or proof-of-stake (PoS). Also, it operates with a directed acyclic graph (DAG) optimized consensus. Furthermore, the Snowman protocol, a part of the Avalanche consensus protocol, is worth mentioning and meant for block production.
Avalanche (AVAX) Price Prediction 2023
Avalanche (AVAX) holds the 20th position on CoinGecko right now. AVAX price prediction 2023 is explained below with a daily time frame.
The above chart of AVAX laid out the Descending Channel pattern. This pattern is also known as the falling channel. Notably, it is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is characteristic of a bearish market.
Currently, Avalanche (AVAX) is in the range of $11.63. If the pattern continues, the price of AVAX might reach the resistance levels of $14.61, $20.59, and $30.14. If the trend reverses, then the price of AVAX may fall to $11.41.
Avalanche (AVAX) Support and Resistance Levels
The chart below shows the support and resistance levels of Avalanche (AVAX).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Avalanche (AVAX).
| Resistance Level 1 | $16.42 |
| Resistance Level 2 | $20.98 |
| Resistance Level 3 | $28.96 |
| Support Level | $11.57 |
The charts show that Avalanche (AVAX) has performed a bullish trend over the past month. If this trend continues, AVAX might run along with the bulls overtaking its resistance level at $28.96.
Accordingly, if the investors turn against the crypto, the price of Avalanche (AVAX) might plummet to almost $11.57, a bearish signal.
Avalanche (AVAX) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Avalanche (AVAX) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of AVAX lies below the cutoff line, indicating weak participants in the current trend.
Also, the moving average (MA) of Avalanche (AVAX) is shown in the chart above. Notably, Avalanche (AVAX) price lies below 50 MA (short-term), so it is in a downtrend. Currently, AVAX has entered a bearish state. Therefore, there is a possibility of a reversal trend of AVAX at any time.
Meanwhile, the relative strength index (RSI) of the AVAX is 37.37. This means that Avalanche (AVAX) is nearly oversold state. However, this means a major price reversal of AVAX may occur in the upcoming days. So, traders need to trade carefully.
Avalanche (AVAX) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Avalanche (AVAX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Avalanche (AVAX). Currently, the ADX of AVAX lies in the range of 28.55 and thus, it indicates a weak strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Avalanche (AVAX). RVI measures the constant deviation of price changes over a period of time. The RVI of AVAX lies above 50, indicating high volatility. In fact, the RSI of Avalanche (AVAX) is at 37.37 thus confirming a potential buy signal.
Comparison of AVAX with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Avalanche (AVAX).
From the above chart, we can interpret that the price action of AVAX is similar to BTC and ETH. This indicates that when the price of BTC and ETH increases or decreases, the price of AVAX also increases or decreases respectively.
Avalanche (AVAX) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, Avalanche (AVAX) might probably attain $50 by 2023.
Avalanche (AVAX) Price Prediction 2025
With several upgrades in the network, Avalanche (AVAX) might enter a bullish trajectory. If the coin grabs the attention of major investors, AVAX might rally to hit $55 by 2025.
Avalanche (AVAX) Price Prediction 2026
If Avalanche (AVAX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 7 years, AVAX would rally to hit $60.
Avalanche (AVAX) Price Prediction 2027
If Avalanche (AVAX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, AVAX would rally to hit $65.
Avalanche (AVAX) Price Prediction 2028
If Avalanche (AVAX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, AVAX would rally to hit $70.
Avalanche (AVAX) Price Prediction 2029
Avalanche (AVAX) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, AVAX would hit $75. in 2029.
Avalanche (AVAX) Price Prediction 2030
If investors flock in and continue to place their bets on Avalanche (AVAX), it will witness major spikes. AVAX might hit $80 by 2030.
Conclusion
With continuous improvements in the Avalanche network, we can say that 2023 is a good year for AVAX. For this reason, the bullish price prediction of Avalanche (AVAX) in 2023 is $30.72. On the other hand, the bearish price prediction of Avalanche (AVAX) price prediction for 2023 is $11.56.
Furthermore, with the advancements and upgrades to the Avalanche ecosystem, the performance of AVAX would help to reach above its current all-time high (ATH) of $144.96 very soon. But, it might also reach $45 if the investors believe that AVAX is a good investment in 2023.
FAQ
Avalanche (AVAX) is the native cryptocurrency of the Avalanche network. AVAX was launched in 2020. Avalanche is an open-source decentralized blockchain for creating dApps and customized blockchains.
Avalanche (AVAX) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, MEXC, FMFW.io, OKX.
With the ongoing developments and upgrades within the Avalanche platform, AVAX has a high possibility of reaching its ATH soon.
On November 21, 2021, Avalanche (AVAX) reached its new all-time high (ATH) of $144.96.
Avalanche (AVAX) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Avalanche in the past few months, AVAX is considered a good investment in 2023.
Avalanche (AVAX) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Avalanche (AVAX) will hit $45 soon.
Avalanche (AVAX) price is expected to reach $50 by 2024.
Avalanche (AVAX) price is expected to reach $55 by 2025.
Avalanche (AVAX) price is expected to reach $60 by 2026.
Avalanche (AVAX) price is expected to reach $65 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Source: https://thenewscrypto.com/avalanche-avax-price-prediction/