Bittime - The price of AVAX, the native token of the Avalanche protocol, showed mixed movements for investors in March. The price of this altcoin initially rose more than 64% and traded above $65 for the first time since May 2022, before falling 18.44% in the last two weeks.
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Not surprisingly, AVAX price fluctuations attract a lot of attention from investors and market analysts. Popular crypto analyst under the pseudonym Rekt Capital advises investors not to panic, because the recent drop in AVAX prices could actually be profitable.
AVAX Rebounds Towards $65-$70: Confidence from Analysts
In a post on the X platform on March 30, Rekt Capital stated that AVAX experienced an overall decline since touching the $65-$70 price zone in mid-March. However, the analyst described this price drop as a “healthy correction” that could potentially take the token back to its previous high.
Source: Twitter/x.com/@rektcapital
Currently, AVAX is trading in the $52-$54 range . Rekt Capital predicts the altcoin is heading towards the $44-$49 region , which is the highest price point recorded in December 2023. Upon entering this price zone, Rekt Capital expects the token to find support and start an uptrend back to the $65-$70 region .
Source: Twitter/x.com/@rektcapital
However, if selling pressure dominates, analysts' technical analysis suggests that AVAX could fall further to around $32.66.
This could signal potential price drops of 39.62% and 49.9% from the current price and AVAX's peak price in March.
Avalanche (AVAX) Price Conclusion
At the time of writing, AVAX is trading around $53.50 with no significant price changes in the last 24 hours, and is down 0.51% over the past week according to CoinMarketCap. Meanwhile, the trading volume of this crypto asset fell 16.62% to $370.86 million.
Despite this, AVAX has generally been one of the best performing assets in the last six months, with a market price increase of 471.35% . Notably, in December 2023, this altcoin surged around 150% from $20.41 to a monthly high of $49.98.
Outside the market, AVAX also made positive achievements. Recently, the Avalanche network announced a collaboration with blockchain Chainlink and the Australia and New Zealand Banking Group (ANZ) to explore the use of crypto assets in the global financial settlement system. The use of AVAX in such projects will strengthen the adoption of the token, ultimately having a positive impact on its market price.
How to Buy Avalanche(AVAX) by 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 the market pair AVAX/IDR . To be able to buy AVAX IDR at 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 the complete guide on how to buy Avalanche(AVAX) on Bittime .
Monitor the 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.
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