Avalanche Price Prediction 2022 — Will AVAX Hit $140 Soon?

Avalanche Price Prediction — Will AVAX Hit $140 Soon?

  • Bullish AVAX price prediction is $95.59 to $129.77.
  • The AVAX price will also reach $140 soon.
  • AVAX’s bearish market price prediction for 2022 is $20.55.

In Avalanche’s (AVAX) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about AVAX to analyze the future movement of the cryptocurrency. 

Avalanche Current Market Status

According to CoinGecko, the price of AVAX is $94.27 with a 24-hour trading volume of $1,695,583,540 at the time of writing. However, AVAX has increased nearly 2.2% in the last 24 hours.

Moreover, AVAX has a circulating supply of 267,283,189 AVAX. Currently, AVAX trades in cryptocurrency exchanges such as Binance, OKX, CoinTiger, Bybit and FTX.

What is Avalanche (AVAX)?

Avalanche is a layer one blockchain that functions as a platform for decentralized applications (dApps) and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. This is made possible by Avalanche’s unique architecture. Avalanche attempts to solve the blockchain trilemma, which posits that blockchains cannot achieve a sufficient degree of decentralization at scale. AVAX is traded on the Exchange Chain, which follows its own Avalanche consensus mechanism. Unlike proof-of-work or proof-of-stake, the avalanche consensus mechanism does not have one leader processing transactions that get validated by others.

Avalanche (AVAX) Price Prediction 2022

Avalanche holds the 10th position on CoinGecko right now. AVAX price prediction 2022 is explained below with a daily time frame.

AVAX/USDT Triangle Pattern (Source: Tradingview)

Triangle patterns are important patterns in trading because they show a decrease in volatility that could eventually expand again. Triangles provide analytical insights into current conditions and give indicators of types of conditions that may be forthcoming. A triangle pattern occurs when the up and down movements of an asset’s price are confined to a smaller and smaller area over time. Triangle patterns are aptly named because the upper and lower trendline ultimately meets at the apex on the right side, forming a corner.

Currently, AVAX is in the range of $94.27. If the pattern continues, the price of AVAX might reach the resistance level of $91.53,& $132.25. If the trend reverses, then the price of AVAX may fall to $66.40 & $52.02.

Avalanche (AVAX) Support and Resistance Level

The below chart shows the support and resistance level of AVAX.

AVAX/USDT Support and Resistance Level (Source: TradingView)

From the above monthly time frame, it is clear the following are the resistance and support levels of AVAX.

Resistance Level 1 $95.59
Resistance Level 1 $129.77
Support Level 1 $68.64
Support Level 1 $50.99
Support Level 1 $32.37
Support Level 1 $20.55
AVAX Resistance & Support Level

The charts show that AVAX has performed a bullish trend over the past month. If this trend continues, AVAX might run along with the bulls overtaking its resistance level at $129.77.

Accordingly, if the investors turn against the crypto, the price of the AVAX might plummet to almost $20.55, a bearish signal.

Avalanche Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of AVAX is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of AVAX lies below the cutoff line, indicating weaker participants in the current trend.

AVAX/USDT RVOL, MA, RSI (Source: TradingView)

More so, the AVAX’s Moving Average (MA) is shown in the chart above. Currently, AVAX is in a bullish state. Notably, the AVAX price lies above 50 MA (short-term), so it is completely in an upward trend. Therefore, there is a possibility of a reversal trend of AVAX at any time.

Meanwhile, the relative strength index (RSI) of the AVAX is at level 56.66. This means that AVAX is in neither an oversold nor an overbought state. However, this means a major price reversal of AVAX may occur in the upcoming days. So, traders need to trade carefully. 

Avalanche Price Prediction 2022 — ADX, RVI

Let us now look at Avalanche’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

AVAX/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Avalanche. Currently, AVAX lies in the range of 21.54, so it indicates a weak trend. 

From the above chart, the Relative Volatility Index (RVI) of AVAX. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of AVAX lies below the 50 levels, indicating that the direction of volatility is low. In fact, AVAX’s RSI is at a 56.66 level thus confirming a potential sell signal.

Comparison of AVAX with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Avalanche.

BTC Vs ETH Vs AVAX Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC, and AVAX is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and AVAX also increases or decreases respectively.

Conclusion

With continuous improvements in the Avalanche network, we can say that 2022 is a good year for AVAX. For this reason, the bullish price prediction of Avalanche in 2022 is $129.77. On the other hand,  the bearish AVAX price prediction for 2022 is $20.55.

Furthermore, with the advancements and upgrades on the AVAX ecosystem, the performance of AVAX would help to reach above its current all-time high (ATH) $144.96 very soon. But, it might also reach $140 if the investors believe that AVAX is a good investment in 2022.

FAQ

1. What is Avalanche?

Avalanche is a layer one blockchain that functions as a platform for decentralized applications (dApps) and custom blockchain networks.

2. Where can you purchase AVAX?

AVAX has listed on many crypto exchanges which include Binance, OKX, CoinTiger, Bybit, and FTX.

3. Will AVAX reach a new ATH soon?

With the ongoing developments and upgrades within the AVAX platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Avalanche?

On Nov 21, 2021, AVAX reached its new all-time high (ATH) of $144.96.

5. Is AVAX a good investment in 2022?

Avalanche (AVAX) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of AVAX in the past few months, AVAX is considered a good investment in 2022.

6. Can Avalanche (AVAX) reach $140?

Avalanche (AVAX) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Avalanche (AVAX) will hit $140 soon.

7. What will be the AVAX price by 2023?

Avalanche (AVAX) price is expected to reach $167 by 2023.

8. What will be the AVAX price by 2024?

Avalanche (AVAX) price is expected to reach $182 by 2024.

9. What will be the AVAX price by 2025?

Avalanche (AVAX) price is expected to reach $203 by 2025.

10. What will be the AVAX price by 2026?

Avalanche (AVAX) price is expected to reach $220 by 2026.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

The post has appeared first on thenewscrypto.com

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