- Avalanche (AVAX) shows signs of an uptrend, potentially redefining its market trajectory.
- After hitting a low of $17, AVAX stabilized, gaining nearly 10% in the past week.
- Despite a recent 5.74% pullback, AVAX appears poised for significant growth.
- Crypto analysts predict that AVAX could surge to $230-285 after a period of correction.
Avalanche (AVAX) is catching the eye of investors and analysts alike, flashing signs of an uptrend surge that might redefine its trajectory moving forward in the cryptocurrency market. After dropping to a recent low of $17, AVAX has shown remarkable resilience by stabilizing and reverting with strong signs of growth. It gained almost 10% in the past week alone, driving home a strong performance.
At this moment, AVAX trades at $20.84, with a 24-hour trading volume of $469.63 million. This depicts prime activity and interest in the token as its market capitalization rests at $8.19 billion. Notwithstanding a slight pullback of 5.74% in the past 24 hours, AVAX, from the broader perspective, seems all set up to blast off fully.
Avalanche (AVAX) Target Set at $230-285, Analyst Predicts
In a recent analysis, well-known crypto analyst CryptoBullet expressed a bullish outlook on Avalanche (AVAX), predicting a significant price surge in the coming months. According to the analyst, the cryptocurrency has already shown impressive growth, and the future looks even brighter.
The analyst highlighted a key moment in AVAX’s recent trajectory, where the price bounced strongly off his identified “Buy Zone 1.” This zone, set below $10, proved to be a lucrative entry point for those who capitalized on it.
At its peak, AVAX surged by 438%, rewarding investors who bought in at these low levels. The analyst himself mentioned purchasing a small amount at $9.2, although he modestly noted that he was expecting even lower prices and did not consider it a personal win.
Looking forward, the analyst revised his earlier expectations regarding Avalanche’s potential downturn. He initially anticipated that AVAX could drop to his “ultimate Buy Zone” of $3.25-4.65.
However, following the recent price action, he no longer expects the cryptocurrency to reach these lows. Instead, he foresees a period of correction, which he believes will last several weeks, before AVAX continues its upward trajectory.
The analyst’s optimism doesn’t stop there. He has set a bullish target for the top of bull markets, saying that AVAX could reach a price range of $230-285. This forecast is based on the assumption that, after the expected correction, Avalanche would again start moving upwards with increased momentum, potentially making new all-time highs.
According to the shared analysis by CryptoBullet, with the crypto market changing each and every day, Avalanche would be on its way to host yet another gigantic rally, hence making this coin very key in the coming weeks and months.
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