Avalanche, AVAX could hit $60.74 in 2024

Avalanche’s price prediction for the most bearish scenario will value AVAX at $31.86 in 2024.

Avalanche’s previous All Time High was on 21 November 2021 where AVAX was priced at $144.96.

Avalanche’s price at the same time last week was $39.47. It has moved by 6.68 % in the past week and is currently at $39.82. Infact, in the past 24 hours, AVAX has pumped by 1.14 %. There is a slight bullish sentiment in the crypto market. The long term sentiment, however, remains bullish and AVAX could hit $14.82 in 2025.

The total circulating supply of Avalanche as of writing this article was $377203258.97 and the marketcap of AVAX remains at $15,025,887,711

Disclaimer

For some coins with little to no data points and inexistent historical data the model by default will show a positive price prediction. There is no way for our AI bot to decipher whitepaper, tokenomics and team integrity. The coin's price that you are about to see below can fall drastically depending on many factors, so please invest wisely after checking the team and project's whitepaper. This current price prediction is done by a machine crunching numbers and the model is still in the early beta stages. It should strictly not be taken as an investment advice. Although the best engineers are currently tweaking and updating the algorithm, no human has verified the price predicted below, so please use your discretion and make a decision wisely.

AVAX price prediction: Key highlights

1. Support and resistance levels

In the weekly timeframe analysis for AVAX, $14 can prove to be the lowest support level in 2024.

$70 can likely be the highest level of resistance for the asset.

2. AVAX market trend

The market sentiment towards AVAX has been predominantly bullish in February 2024, following a correction that occurred after the asset was overvalued in December.

3. Predictive price analysis

Based on our AI/ML predictive models, the average price of AVAX is forecasted to be $49 in 2033.

This is projected to increase to $69 in 2035.

Given below is a comprehensive weekly technical analysis of AVAX, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

Avalanche (AVAX) technical analysis: Bulls run the show

The Avalanche price prediction for 2024 revealed a tumultuous journey with significant price movements over the past year. The analysis period began with AVAX struggling to surpass the $20 mark, facing minor retractions each time it approached this level in February and again in mid-April.

A significant downturn in June saw the price dip below its former support level of $14, transforming it into a resistance point. Attempts to reclaim this level in mid-July were met with resistance, leading to a series of declines that pushed the price down to its lowest support level of $8 in mid-September.

However, in mid-October, a bullish rally emerged, a pattern that has been observed across many altcoins during this period. This rally was significant enough to propel the price above the $14 mark in November, eventually overcoming the $20 resistance by the end of the month.

December brought about a major price surge, establishing $31 as a new support level. The price momentum continued, reaching a peak resistance of $48 by mid-month. However, this peak was short-lived, as the market quickly deemed the asset overbought, leading to a correction.

The inability of buyers to sustain high buying levels resulted in a price decline below $37. At the time of writing, AVAX was trading at $36, with the current support level holding steady for now.

Looking forward, the market presents a dichotomy of possibilities. A break below the current support could precipitate a fall back to the $20 level. $14 might once again prove its resilience, preventing further declines in a probable bearish market.

Conversely, a market turnaround with sustained upward momentum above the current peak resistance could potentially elevate the price to $55. An even more optimistic outlook, backed by a stronger bullish rally, suggests a trading price range between $65 and $70. Yet, the $70 mark may also present significant resistance, possibly leading to a price rejection.

Reflecting on the past year, AVAX has seen an appreciation of approximately 83%. Currently, AVAX is $108 below its all-time high (ATH), marking a 75% decline from its peak price.

Our predictive models project an average price of around $49 for AVAX in 2033, reflecting moderate optimism in AVAX’s future performance. Moving on to approximately $69 in 2035, this further increase underscores continued confidence in the long-term potential of AVAX.

AVAX's 2024 roadmap: Key indicators to watch and trade

Initially low, the trading volume notably decreased after a price rejection at $14 in July but observed a recovery during October.

Despite a subsequent decline post-peak resistance rejection, volume remained higher than at the start of the period.

The Chaikin Money Flow (CMF) dropped into negative territory in June and, more significantly, at the end of July, signaling selling pressure for almost three months.

It moved past the zero line again by the end of October. In mid-December, it even went as high as 0.42 before dropping and registering at 0.35 at the time of writing.

The Directional Movement Index (DMI) offered detailed insights into market direction and strength. At the start of 2023, the Average Directional Index (ADX) showed a downtrend, mainly staying below both the Positive Directional Indicator (+DI) and the Negative Directional Indicator (-DI) for most of the analyzed period.

The +DI line demonstrated superiority over the -DI line at various points, initially in February, then from March to May, with a slight increase in July. In mid-October, the +DI line experienced a significant surge, clearly outpacing the -DI line, which saw a decline.

In November, the bullish market trend strengthened as the ADX line moved above the -DI line. The +DI reached a peak of 53.7 in December, followed by a decline, falling below the market-feed-icon

Market Cap

$ 15,025,887,711

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Total Volume

$ 520,447,726

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24 Hour

1.14%

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7 Day

6.68%

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