Avalanche Price Prediction, will AVAX’s price hit 42.89? (2024)

Disclaimer

For some coins with little to no data points and inexistent historical data the model by default will show a positive price prediction. There is no way for our AI bot to decipher whitepaper, tokenomics and team integrity. The coin's price that you are about to see below can fall drastically depending on many factors, so please invest wisely after checking the team and project's whitepaper. This current price prediction is done by a machine crunching numbers and the model is still in the early beta stages. It should strictly not be taken as an investment advice. Although the best engineers are currently tweaking and updating the algorithm, no human has verified the price predicted below, so please use your discretion and make a decision wisely.

Avalanche (AVAX): An overview

Source: Avax.network

Avalanche (AVAX) is adecentralized smart contract platform with the aim of being incredibly fast, affordable, and eco-friendly.AVAX, a native utility token of the ecosystem, serves as the main medium of exchange. Its maximum supply is capped at720 million, with360 million minted and sold via private and public sales at launch and the remaining360 for staking rewards distributed over the decades.

In contrast to legacy blockchain networks with a single blockchain and validator set, Avalanche features a heterogeneous network of various blockchains and validator sets. It utilizesproof of stake (PoS), assisted by the distinctiveAvalanche consensus, which is an alternative to the standardNakamoto consensus used by proof-of-work (PoW) platforms.

Avalanche consists of three built-in interoperable blockchains:

• Exchange Chain(X-Chain) for transactions
• Contract Chain (C-Chain) for smart contracts
• Platform Chain (P-Chain) for administering the subnets, coordination of all the validators, and the staking mechanism.

C-Chain and P-Chain make use of the Snowman consensus protocol, whereas X-Chain utilizes the Avalanche consensus protocol. These blockchains are validated and secured by all Avalanche validators, which is also called thePrimary Network.

Avalanche’s journey

Source: Avax.network

In May 2018, Avalanche was initially conceptualized as anInterPlanetary File System (IPFS) by a pseudonymous group of enthusiasts calledTeam Rocket. The Avalanche network was later developed and launched in September 2020 byAva Labs, which was founded by a team from Cornell University: Emin Gün Sirer, Kevin Sekniqi, and Maofan Ted Yin.

The open-source platform was created with the goal of solving problems such as scalability and decentralization, high fees, and interoperability within an ecosystem.

On July 15, 2020, Avalanche’s initial coin offering (ICO) raised$42 million in under 24 hours. This was followed by the launch of the mainnet in September and the introduction of the native token, AVAX. After a year, they raised$230 million via a token sale.

Given below is a brief timeline of Avalanche’s mainnet launch:

• Cascade testnet: In April 2020, Avalanche's first public testnet was launched.
• Denali incentivized testnet: In May 2020, Avalanche's second public testnet was launched, incentivizing users to run a testnet node and allocating2,000 AVAX tokens to participants.
• Everest mainnet release candidate: This was the fully-featured version of the Avalanche network, which was the final phase of testing before the launch of the mainnet.
• Avalanche mainnet launch:In September 2020, the Avalanchemainnet was launched, featuring the release of all three Avalanche chains: X-Chain, C-Chain, and P-Chain.

Other key developments

Source: Avalanche/X

Despite only being launched in 2020, Avalanche has achieved a lot within a brief time. Some of Avalanche’s key developments in the last few years are as follows:

• Integration withReefDeFi in January 2021.
• Introduction ofAEB Bridge andPangolin in February 2021.
• Introduction ofApricot Phase One in March 2021.
• Launch of $1 billion trade volume across alldecentralized exchanges (DEXs) non-fungible token (NFT) marketplace v1 in April 2021.
• Decentralized finance (DeFi)shopping appCurate for merging AVAX payments and mint NFTs on Avalanche in May 2021.
• Avalanche’s roadmap was released in June 2021.
• Avalanche Foundation made a strategic investment inEonXI Labs to back Web 3.0 startups and founders.
• Avalanche Foundation launchedMultiverse, a $290 million incentive program for accelerating the growth of new internet of subnets.
• OpenSea launched support for Avalanche, expanding access to AvalancheNFTs.
• Ava Labs launchedCore Web, upgrading the Web 3.0 user experience.
• Ava Labs releasedCore, aWeb 3.0 operating system for Avalanche.
• Japanese media giantGREE will be building Web 3.0 games and running nodes on Avalanche.
• On December 22, 2022,Avalanche Warp Messaging (AWM)launched the first native subnet-to-subnet message on the Avalanche mainnet.
• Avalanche partnered withAlibaba Cloud to offer node-as-a-service in December 2022. It also released itsBanff 4 network update, which introduced several upgrades to the blockchain, including network optimizations to reduce node bandwidth usage and preparations for the launch of cross-subnet messaging.
• Uniswap (UNI) announced its decision to deploy on Avalanche and began supporting AVAX in March 2023.
• In April 2023, theCortina upgrade was launched on the network mainnet
• In May 2023, the collaboration between Avalanche and Alibaba Cloud aimed to create a launchpad calledCloudverse for Alibaba clients. Cloudverse was designed as an end-to-end solution, allowing businesses to launch, customize, and maintain theirmetaverse on Avalanche.
• SushiSwap (SUSHI) announced the launch of its third iteration, V3, on Avalanche in June 2023.
• In July 2023,Core Stake, a tool for validating and delegating on the Avalanche network, was launched.
• In August 2023, a new cross-chain messaging protocol—Teleporter, went live on the Avalanche testnet.Zero One was also released on the Avalanche C-Chain.
• In October 2023,Chainlink Automation 2.0 andChainlink Functions 1.0 were launched on Avalanche C-Chain. Moreover, Ava Labs announced Firewood, which is a database designed for storingMerklized blockchain state.
• In November 2023, JP Morgan created a tokenizationproof-of-concept on Avalanche, andAvalancheGo started undergoing performance optimizations.
• In December 2023,Hubble Exchange went live on the Avalanche subnet.

AVAX Price Analysis

The weekly chart of AVAX for the year 2023 depicted a tumultuous journey marked by a persistent tussle betweenbullish andbearishforces. The year commenced favorably for the bears, with AVAX facing a significant rejection at a high of$20.95 in late January, which precipitated a downward trajectory.

AVAX weekly chart

Another attempt to breach this resistance in April faced a similar fate. A resurgence of bearish momentum was palpable in the subsequent months, culminating in a decisive breach below the critical support level of$14.24 in June, thereby redefining it as a resistance zone.

Despite an intermittentbullishattempt to recapture this level in July, the endeavor was largely futile, leading to a continued downward trend. This bearish saga peaked, with the asset plunging to its lowest support level at$8.68in mid-September.

However, a shift in momentum was observed towards the end of September, with the asset making agradual recovery. From mid-October, the bullish rally gained momentum, and by the start of November, it started reclaiming lost ground.

Notably, this period was marked by a pronounced surge in active addresses and transactions in the Avalanche network, signaling a revitalized interest and utility in the AVAX network. The continued upward trajectory finally pushed the price past the formidable$20.95 resistance in mid-November.

Continuing its ascent into December, AVAX reached new heights. During this time, Avalanche experienced a significant increase in the number of new tokens pushed into circulation. By the end of the analysis, AVAX exchanged hands at$48.09. This was a stark contrast to its humble beginnings at$10.80 at the start of the year.

The volume throughout the year generally echoed the prevailing price action. Initiallysubduedduring periods of bearish dominance, it experienced a resurgence starting in October, aligning with the recovery in price. This resurgence in trading volume was indicative of agrowing interest and a shift in market sentiment.

The Chaikin Money Flow (CMF) briefly aligned with the price's initial attempt to challenge the$20.95 resistance. However, as thebearishtrend took hold, the CMF dipped below the zero line in June and then again in July. It wasn't until late October that the CMF witnessed a significant recovery, ultimately positioning itself at a robust0.43, suggesting a substantial increase inbuying pressure.

The Directional Movement Index (DMI) provided a nuanced view of the market's direction and strength. At the onset of 2023, the Average Directional Index (ADX) began to decline, predominantly staying beneath both the Positive Directional Indicator (+DI) and the Negative Directional Indicator (-DI) for the majority of the time under analysis.

Conversely, the +DI line asserted its dominance over the -DI line in several instances, initially between January and February and then once more from March to May, followed by a slight increase in July.

From the beginning of October, the +DI line undertook a substantial rise, establishing a clear dominance, while the -DI line correspondingly declined. In November, the trend became even more pronounced as the ADX line surpassed the -DI line, indicating a strengthening of thebullish market trend. The final readings of the indicators were +DI at 49.3867, ADX at35.3470, and -DI at4.0305, illustrating a dominant bullish phase.

Should you consider buying AVAX?

Throughout the year, AVAX's market trends and indicators painted apositive picture of its performance. The notable rise in the price, accompanied by a surge in network activity and the total value locked (TVL), indicated robust growth and engagement.

AVAX target price

Considering these dynamics, traders might view the asset's trajectory and current market conditions favorably. The buying range between$8.7and$9.3 can likely serve as a strategic entry point for those looking to capitalize on AVAX's momentum while bearing in mind the inherent risks and volatilities associated with cryptocurrency investments.

Avalanche's Short Term Price Prediction

Avalanche price prediction 31 December 2023: Avalanche's price for 31 December 2023 according to our analysis should range between $42.30 to $48.67 and the average price of AVAX should be around $45.48.

Avalanche price prediction 1 January 2024: Avalanche's price for 1 January 2024 according to our analysis should range between $40.37 to $46.45 and the average price of AVAX should be around $43.41.

Avalanche price prediction 2 January 2024: Avalanche's price for 2 January 2024 according to our analysis should range between $39.98 to $45.99 and the average price of AVAX should be around $42.99.

Avalanche price prediction 3 January 2024: Avalanche's price for 3 January 2024 according to our analysis should range between $39.81 to $45.80 and the average price of AVAX should be around $42.80.

Avalanche price prediction 8 January 2024: Avalanche's price for 8 January 2024 according to our analysis should range between $41.80 to $48.09 and the average price of AVAX should be around $44.94.

Avalanche price prediction 13 January 2024: Avalanche's price for 13 January 2024 according to our analysis should range between $43.33 to $49.85 and the average price of AVAX should be around $46.59.

Avalanche price prediction 23 January 2024: Avalanche's price for 23 January 2024 according to our analysis should range between $46.17 to $53.12 and the average price of AVAX should be around $49.64.

Avalanche price prediction February 2024: Avalanche's price for February 2024 according to our analysis should range between $29.11 to $33.50 and the average price of AVAX should be around $31.31.

Avalanche price prediction March 2024: Avalanche's price for March 2024 according to our analysis should range between $29.49 to $33.93 and the average price of AVAX should be around $31.71.

Avalanche price prediction April 2024: Avalanche's price for April 2024 according to our analysis should range between $29.86 to $34.36 and the average price of AVAX should be around $32.11.

Avalanche price prediction May 2024: Avalanche's price for May 2024 according to our analysis should range between $30.24 to $34.79 and the average price of AVAX should be around $32.51.

Avalanche price prediction June 2024: Avalanche's price for June 2024 according to our analysis should range between $30.61 to $35.22 and the average price of AVAX should be around $32.92.

Avalanche price prediction July 2024: Avalanche's price for July 2024 according to our analysis should range between $30.99 to $35.65 and the average price of AVAX should be around $33.32.

Avalanche price prediction August 2024: Avalanche's price for August 2024 according to our analysis should range between $31.36 to $36.08 and the average price of AVAX should be around $33.72.

Avalanche price prediction September 2024: Avalanche's price for September 2024 according to our analysis should range between $31.74 to $36.52 and the average price of AVAX should be around $34.13.

Avalanche price prediction October 2024: Avalanche's price for October 2024 according to our analysis should range between $32.11 to $36.95 and the average price of AVAX should be around $34.53.

Avalanche price prediction November 2024: Avalanche's price for November 2024 according to our analysis should range between $32.49 to $37.38 and the average price of AVAX should be around $34.93.

Avalanche price prediction December 2024: Avalanche's price for December 2024 according to our analysis should range between $32.86 to $37.81 and the average price of AVAX should be around $35.34.

Avalanche's Long Term Price Prediction

Avalanche’s long term Price Prediction below is a look at AVAX’s future prospect with regards to price. Avalanche was last seen at $39.37, with a market cap of $14,412,719,730 and trading volumes of $608,660,467. AVAX’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.

Avalanche price prediction 2024: Avalanche's price for 2024 according to our analysis should range between $28.59 to $42.89 and the average price of AVAX should be around $35.74.

Avalanche price prediction 2025: Avalanche's price for 2025 according to our analysis should range between $33.07 to $49.60 and the average price of AVAX should be around $41.33.

Avalanche price prediction 2026: Avalanche's price for 2026 according to our analysis should range between $38.24 to $57.36 and the average price of AVAX should be around $47.80.

Avalanche price prediction 2027: Avalanche's price for 2027 according to our analysis should range between $44.23 to $66.34 and the average price of AVAX should be around $55.29.

Avalanche price prediction 2028: Avalanche's price for 2028 according to our analysis should range between $51.15 to $76.73 and the average price of AVAX should be around $63.94.

Avalanche price prediction 2029: Avalanche's price for 2029 according to our analysis should range between $59.16 to $88.74 and the average price of AVAX should be around $73.95.

Avalanche price prediction 2030: Avalanche's price for 2030 according to our analysis should range between $68.42 to $102.63 and the average price of AVAX should be around $85.52.

Avalanche price prediction 2031: Avalanche's price for 2031 according to our analysis should range between $79.13 to $118.69 and the average price of AVAX should be around $98.91.

Avalanche price prediction 2032: Avalanche's price for 2032 according to our analysis should range between $91.51 to $137.27 and the average price of AVAX should be around $114.39.

Avalanche price prediction 2033: Avalanche's price for 2033 according to our analysis should range between $105.84 to $158.76 and the average price of AVAX should be around $132.30.

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Avalanche’s current price is $39.37 and witnessed a -2.15% decrease in the past 24 hours. AVAX/BTC pair saw a -2.94% decrease in the past 24 hours

Investing in Avalanche, AVAX will purely depend on your personal risk appetite. As you can see over the past 24 hours Avalanche’s price has witnessed a -2.15% decrease and over the past 30 days Avalanche has increase by 84.02%. So it all depends on if this investment will hit your trading goals.

According to our latest Avalanche Price prediction for 2023, AVAX should vary between $37.08 and $24.72. Please keep in mind that the crypto market is very volatile and this Avalanche price prediction does not account for extreme wild swings in price.

As per the Avalanche price prediction 2023 model above, AVAX’s price for December 2023 should range between $24.72 to $37.08 with the average price for December being $30.90

According to the Avalanche Price Prediction model above, AVAX’s price in 2024 would be $35.74. This price would however would range from $42.89 and $28.59.

According to the Avalanche Price Prediction model above, AVAX’s price in 2025 would be $41.33. This price would however would range from $49.60 and $33.07.

According to the Avalanche Price Prediction model above, AVAX’s price in 2026 would be $47.80. This price would however would range from $57.36 and $38.24.

According to the Avalanche Price Prediction model above, AVAX’s price in 2027 would be $55.29. This price would however would range from $66.34 and $44.23.

According to the Avalanche Price Prediction model above, AVAX’s price in 2028 would be $63.94. This price would however would range from $76.73 and $51.15.

According to the Avalanche Price Prediction model above, AVAX’s price in 2029 would be $73.95. This price would however would range from $88.74 and $59.16.

According to the Avalanche Price Prediction model above, AVAX’s price in 2030 would be $85.52. This price would however would range from $102.63 and $68.42.

According to the Avalanche Price Prediction model above, AVAX’s price in 2031 would be $98.91. This price would however would range from $118.69 and $79.13.

According to the Avalanche Price Prediction model above, AVAX’s price in 2032 would be $114.39. This price would however would range from $137.27 and $91.51.

According to the Avalanche Price Prediction model above, AVAX’s price in 2033 would be $132.30. This price would however would range from $158.76 and $105.84.

The highest price for Avalanche was recorded in 21 November 2021 during which AVAX hit an All Time High of $144.96

The price of 1 Avalanche according to current market rate is $39.37