DeepikaThe cryptocurrency 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 current price of Avalanche is $ 12.52, with a 24-hour trading volume of $ 186.33M, a market size of $ 4.33B, and a market dominance of 0.36%. In the last 24 hours, the price of AVAX fell by -1.40%.
Avalanche achieved its greatest price on November 21, 2021, when it traded at an all-time high of $ 146.18, and its lowest price was recorded on December 23, 2020, when it traded at an all-time low of $ 2.79. Since its ATH, the lowest price was $9.99 (cycle low). Since the last cycle low, the highest AVAX price was $15.94 (cycle high). The price forecast sentiment for Avalanche is now negative, with the Fear and Greed Index reading 53 (Neutral).
The current circulating supply of Avalanche is 346.02M AVAX, with a maximum supply of 720.00M AVAX. The current annual supply inflation rate is 21.44%, implying that 61.09 million AVAX were generated in the previous year. Avalanche is presently rated #8 in the Proof-of-Stake Coins sector, #1 in the Avalanche Network sector, and #13 in the Layer 1 category in terms of market cap.
Technical Analysis
The AVAX price is presently trading at $12.69, up 1.69% in the last 24 hours. Avalanche has a total market capitalization of $4.39 billion and is ranked 19th in the cryptocurrency market.
The AVAX token has a trading volume of $125.2 Million and has increased by 14.05% in the last 24 hours. It has a circulating supply of about 346.35 million tokens. The Avalanche coin has a volume-to-market cap ratio of 2.86%, indicating moderate market volatility.
According to our technical indicators, the Avalanche’s 200-day SMA will fall in the coming month and reach $15.01 on September 9, 2023. The Avalanche’s short-term 50-Day SMA is expected to reach $13.77 by September 9, 2023.
The Relative Strength Index (RSI) momentum oscillator is a prominent indicator that indicates if a cryptocurrency is oversold (below 30) or overbought (over 70). The RSI is currently at 44.23, indicating that the AVAX market is in a neutral state.
The AVAX token has been fixed following a 30% increase from the lower demand zone in June 2023. Since July 2023, the price has been declining, with numerous rejections from trendline resistance. However, the price is displaying some neutral candles, indicating that the correction is losing strength.
The price has plummeted by more than 3% in the previous week and more than 18% in the last three months, showing that the corrective phase is still ongoing. Furthermore, the coin’s low volume demonstrates the stock’s vulnerability.
The price is reaching a lower demand zone, where it might find some buyer support and rebound to the upper trendline.
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 develop.
Avalanche has support levels of $ 12.50 and $ 12.36, with the strongest at $ 12.22 based on today’s traditional pivot point (P1) of $ 12.65. Avalanche resistance levels are also at 12.78, 12.93, and 13.06.
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.
