Avalanche is Predicted to Reach $ 23.02 By Mar 01, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Avalanche is down -3.02% today against the US Dollar
• AVAX/BTC decreased by -2.08% today
• AVAX/ETH decreased by -3.44% today
• Avalanche is currently trading 14.31% below our prediction on Mar 01, 2023
• Avalanche gained 16.63% in the last month and is down -73.21% since 1 year ago

AVAX price is expected to rise by 16.70% in the next 5 days according to our Avalanche price prediction

Avalanche price today is trading at $ 19.73 after losing -3.02% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -2.13% in the same time period. AVAX performed poorly against BTC today and recorded a -2.08% loss against the world’s largest cryptocurrency.

According to our Avalanche price prediction, AVAX is expected to reach a price of $ 23.02 by Mar 01, 2023. This would represent a 16.70% price increase for AVAX in the next 5 days.

AVAX Price Prediction Chart

Buy/Sell Avalanche

What has been going on with Avalanche in the last 30 days

Avalanche has been displaying a positive trend recently, as the coin gained 16.63% in the last 30-days. The medium-term trend for Avalanche has been bullish, with AVAX increasing by 53.04% in the last 3 months. The long-term picture for Avalanche has been negative, as AVAX is currently displaying a -73.21% 1-year price change. On this day last year, AVAX was trading at $ 73.63.

Avalanche reached its all-time high price on Nov 21, 2021, when the price of AVAX peaked at $ 146.18. The current AVAX cycle high is $ 22.65, while the cycle low is at $ 10.61. AVAX has been displaying low volatility recently – the 1-month volatility of the coin is at 6.35. Avalanche recorded 17 green days in the last 30 days.

Avalanche technical analysis for today - Feb 24, 2023

The sentiment in the Avalanche markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 19.28, $ 18.85 and $ 18.14, while $ 20.42, $ 21.12 and $ 21.55 are the key resistance levels.

Bearish sentiment for Avalanche

12 indicators are currently signaling a bullish prediction for Avalanche, while 16 indicators are showing a bearish forecast. With 57% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Avalanche.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 53 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Avalanche moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Avalanche is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Avalanche is at 56.72, suggesting that AVAX is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Avalanche over the last 50 days. Currently, Avalanche is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the AVAX closing price for the last 200 days. AVAX is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Avalanche prediction

After considering the above factors, we can conclude that the current forecast for Avalanche price prediction is Bearish. AVAX would have to increase by 16.70% to hit our $ 23.02 target within the next five days. Moving forward, it will be important to monitor the AVAX market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Avalanche price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

by coincodex