Avalanche (AVAX), known for its high throughput and low costs, is the focus of our analysis today. We focus on AVAX price prediction for the coming period. In this article you will find a technical analysis from our premium environment.
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Technical analysis Avalanche (AVAX)
Analysts at Crypto Insiders believe that AVAX's decline is not yet complete, but a reversal is imminent. They recently stated the following:
“We have observed a further decline at AVAX, which is a little deeper than we had initially hoped. But now a pattern is emerging that could potentially work to our advantage.
We see the formation of a larger Elliott wave pattern at 12345, where the current correction appears to be wave 2. AVAX is now expected to head toward the Fibonacci “golden pocket,” specifically between the 50% and 61.8% retracement levels. This would mean that the price will move towards the range between $24.9 and $29.8.
Based on this analysis, we foresee a turning point starting at this level. Although we are currently still in a downward trend, there appears to be an end in sight.”
The charts are from TradingView. This allows you to easily perform crypto analysis, such as an ETH-USD chart.
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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. These therefore serve exclusively educational purposes.
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