Avalanche (AVAX) Price Prediction Amid Market Recovery, Can It Soar Until Mid-2024?

Bittime - Avalanche (AVAX) is a blockchain platform designed for scalability, security, and interoperability. AVAX has attracted a lot of attention for its potential to revolutionize the blockchain industry.

However, the crypto market is currently experiencing high volatility. AVAX price still shows hesitation amidst the latest market recovery in the past week. This article will analyze AVAX price predictions based on the latest data and latest developments.

Fundamental Analysis

• The Avalanche Foundation announced $230 million in funding to accelerate adoption and development of the platform.
• Integration with other blockchain platforms such as Terra and Cosmos enhances AVAX's interoperability and utility.
• The launch of Avalanche subnets increases scalability and enables more efficient development of decentralized applications (dApps).

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Technical Analysis

• AVAX moves in a sideways pattern between $80 and $95.
• The RSI indicator shows neutral conditions, indicating the potential for significant price movements.
• The main support line is located at $80, while the main resistance is at $95.

Price Prediction

Spot Price: $54,6

Train: Bullish

Volatility: Height

• Bullish Scenario: A breakout above $95 could push AVAX towards the $110 and $125 targets.
• Bearish Scenario: A drop below $80 could send AVAX to the $70 and $60 levels.

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Factor affecting

• Overall crypto market sentiment.
• Successful launch of new subnets and dApps.
• Adoption of Avalanche by institutions and large investors.

Other Factors to Consider

Currently, the $58, $61.45 and $65.4 levels serve as weekly resistance. If the price clears all these resistances, a possible level to watch for an increase is $70. Other highs may emerge around $75 and $80.

• Crypto Regulation: Increasingly stringent crypto regulations could negatively impact the price of AVAX and the crypto market as a whole.
• Competition: Other blockchain platforms such as Ethereum, Solana, and Cardano are also competing for market share, which could impact AVAX's growth.
• Macroeconomic Conditions: Unstable macroeconomic conditions, such as inflation and high interest rates, can make investors reluctant to invest in risky assets such as crypto.

Avalanche (AVAX) Price Today

Source: Bittime

Based on the Bittime market on March 22 2024, the price of AVAX/IDR has reached the level of IDR 887,620, an increase of 2.21% in 24 hours.

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Conclusion

AVAX price still shows hesitation, but strong fundamentals and recent developments indicate bullish potential. Investors need to monitor price movements and technical indicators to determine the best time to buy or sell.

How To Buy Avalanche (AVAX) With Bittime

You can buy and sell Avalanche (AVAX) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Avalanche (AVAX) is available on Bittime with AVAX IDR pairing.

To be able to buy AVAX tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Avalanche (AVAX) on Bittime.

Monitor price chart movements of Avalanche (AVAX), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.