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Avalanche Crypto Price Prediction 2022 – Will AVAX Pump? (Video)

Avalanche Crypto Price Prediction 2022 – Will AVAX Pump? (Video)

Avalanche Crypto Price Data

Avalanche Crypto (AVAX) remains one of the most appealing blockchain projects available on the market to date. Recently we have seen strong consolidation. Currently, Avalanche has corrected from an impressive all time high of $146.95 and trades at roughly $26.79.

The price of AVAX has fallen down to price levels of February-May 2021 which could be a very strong potential buying zone for this blue-chip project.

The chart above also displays that Avalanche has seen nine consecutive red weekly candles. Finally, we have just put through the first green weekly candle in a long time.

Is this the start of a potential new uptrend for Avalanche?

Cryptoassets are a highly volatile unregulated investment product.

Avalanche (AVAX) Price Prediction 2022

Looking at the recent price action of Avalanche I would be keen to soon see a new impulse wave. We have now been trading within a falling wedge (bullish reversal pattern) for 26 days. Many traders are anticipating a pump to the upside.

Avalanche Crypto Double Bottom Trading Pattern

Avax/Usdt Falling Wedge Pattern – 4hr chart

These price levels have acted as a key supply phase where we have seen a vast amount of accumulation for many cryptocurrencies. The market sinks into extreme fear sentiment and smart money flows in.

Should we see bearish continuation and should Bitcoin revisit the 200-week moving average, I think the bottom for Avalanche would be around $19.84. This was written in from a capitulation wick on the 19th April 2021 which has created a solid support structure for any downside activity.

Even if we to see another 40% altcoin correction I think it is unlikely to see a $10 Avalanche ever again.

It is also important to factor in the bullish double bottom reversal pattern that resides within the descending wedge. This is likely to break out to the upside and we can see the chart above gives us a technical target of around $32.81.

Of course this could still be a dead cat bounce and we may retest the resistance of the descending wedge as support.

Avalanche Fibonacci Extension Levels

Avalanche Fibonacci Extension levels.

The likely areas of resistance we would approach would be as listed below.

  • 0.236 Fib – $33.78.
  • 0.382 Fib – $40.89.
  • 0.5 Fib – $46.65.
  • 0.618 Fib – $52.39.
  • 0.786 Fib – $60.57.

Ideally for June I think the $30-40 price mark for Avalanche is realistic. For July I think it could be possible to revisit the top of the descending channel on the daily chart above of around $70.

Right now we are getting a rejection on the 20-day moving average on the daily time frame, so I would always remain risk averse and try not to chase green candles and try to time the entry.

Avalanche (AVAX) Price Prediction 2025

If the market cycle bottom for Avalanche was $21.89 we can start looking at future pragmatic targets for the next Crypto bull market. We would assume this would be in 2024 after the next Bitcoin halving event.

Avalanche Fibonacci Price Targets

Avalanche Future Price Targets

I personally like to use the Fibonacci extension which we can use by connecting the market cycle top to the local market cycle bottom to gauge realistic price targets.

  • 1.272 Fib – $181.23.
  • 1.414 Fib – $199.07.
  • 1.618 Fib – $224.69.

Avalanche currently has a $7.2b market capital and trades at rank 14 on Coinmarketcap. Reaching $200 from current price levels would result in a 687% return on investment by 2025. Huge potential.

The previous market capital all time high for Avalanche was $30b and the above price predictions are not even hyper-bullish. Many maximalists believe that the market cap could easily achieve $100b by 2030.

According to Defi Llama we also have $3.93b total value locked across the ecosystem, these are pretty bullish figures considering we are in a bear market.

Defi Llama Avalanche Total Value Locked

In my opinion, Avalanche will be here to stay and has the cash reserves to maintain growth and protocol upgrades during long-term bear markets.

Avax is the fastest smart-contracts platform in the blockchain industry which gives it a unique selling point amongst other DeFi competitors. It is ultra quick, cost efficient, reliable and eco-friendly.

Following a long accumulation phase I would think Avalanche could definitely blast through $200 price levels by 2025.

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Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

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Source: Business 2 Community

 

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