• Bullish AVAX price prediction for 2023 is $13.79 to $17.70.
• Avalanche (AVAX) price might also reach $20 soon.
• Bearish AVAX price prediction for 2023 is $8.95.

In Avalanche (AVAX) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about AVAX to analyze the future movement of the cryptocurrency.

Avalanche (AVAX) Current Market Status

AVAX Current Market Status (Source: CoinMarketCap)​

What is Avalanche (AVAX)?

Avalanche (AVAX) is the native cryptocurrency of the Avalanche network. AVAX was launched in 2020. Avalanche is an open-source decentralized blockchain for creating dApps and customized blockchains. It is popularly known as the “winter-themed” ecosystem that holds AVAX, the “red coin.”

AVAX tokens have 3 primary use cases. Firstly, they serve as the transaction fee. They serve as the fundamental unit for all Avalanche’s subnets. Moreover, users can stake AVAX and earn these tokens as rewards.

Avalanche comprises 3 interoperable blockchains with distinct functionalities and multiple subnets. The Exchange Chain (X-Chain) handles the trading activities. The contract chain (C-Chain) meant for creating dApps. The Platform Chain (P-Chain), meant for validating transactions and maintaining subnets.Avalanche consensus protocol is distinctive. It is not completely based on the proof-of-work (PoW) or proof-of-stake (PoS). It operates with a directed acyclic graph (DAG) optimized consensus. Notably, the Snowman protocol, a part of the Avalanche consensus protocol, worth mentioning and meant for block production.

Avalanche (AVAX) Price Prediction 2023

Avalanche (AVAX) holds the 18th position on CoinGecko right now. AVAX price prediction 2023 is explained below with a daily time frame.


AVAX /USDT Descending channel Pattern (Source: Tradingview)

In the above chart, Avalanche (AVAX) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.

Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.

At the time of analysis, the price of Avalanche (AVAX) was recorded at $13.37. If the pattern trend continues, then the price of AVAX might reach the resistance levels of $21.10 and $35.73. If the trend reverses, then the price of AVAX may fall to the support of $10.67.

Avalanche (AVAX) Resistance and Support Levels

The chart given below elucidates the possible resistance and support levels of Avalanche (AVAX) in 2023.


AVAX /USDT Support and Resistance Levels (Source: Tradingview)

From the above chart, we can analyze and identify the following as the resistance and support levels of Avalanche (AVAX) for 2023.

AVAX Support & Resistance Levels

As per the above analysis, if Avalanche’s (AVAX) bulls take the lead, then it might hit and break through its resistance level of $17.70.

Conversely, if Avalanche’s (AVAX) bears dominate the trend, the price of AVAX might plunge to $8.95.

Avalanche (AVAX) Price Prediction 2023 — RVOL, MA, and RSI

The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Avalanche (AVAX) are shown in the chart below.


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

The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment.

At the time of analysis, the RVOL of Avalanche (AVAX) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.

The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).

Notably, in the above chart, the AVAX price lies below 50 MA (short-term), indicating its downtrend. Hence, AVAX is in a bearish state. Although this is the current state, a trend reversal might occur.

Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state.

Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.

At the time of analysis, the RSI of AVAX is at 52.11. Therefore, this indicates AVAX is neither overbought nor oversold state.

Avalanche (AVAX) Price Prediction 2023 — ADX, RVI

In the below chart, we analyze the strength and volatility of Avalanche (AVAX) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).


AVAX /USDT ADX, RVI (Source: Tradingview)

To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.

According to the data on the above chart, the ADX of AVAX lies in the range of 32.42 pointing out a strong trend.

The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of AVAX lies below 50, indicating low volatility.

Comparison of AVAX with BTC, ETH

Let us now compare the price movements of Avalanche (AVAX) with that of Bitcoin (BTC), and Ethereum (ETH).


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

From the above chart, we can interpret that the price action of AVAX is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of AVAX also increases or decreases respectively.

Avalanche (AVAX) Price Prediction 2024-2030

With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Avalanche (AVAX) between 2024 and 2030.

Avalanche (AVAX) Price Prediction 2024

If bulls dominate the price momentum and trend patterns, then Avalanche (AVAX) might successfully test and surpass its resistance levels to hit $22 by 2024.

Avalanche (AVAX) Price Prediction 2025

The significant upgrades in the Avalanche Ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Avalanche (AVAX) price to reach $24 by 2025.

Avalanche (AVAX) Price Prediction 2026

If Avalanche (AVAX) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $26.

Avalanche (AVAX) Price Prediction 2027

If Avalanche (AVAX) sustains major resistance levels and stands as a better investment option in the market, then AVAX would rally to hit $28.

Avalanche (AVAX) Price Prediction 2028

If Avalanche (AVAX) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then AVAX would hit $30 by 2028.

Avalanche (AVAX) Price Prediction 2029

If investors flock in and continue to place their bets on Avalanche (AVAX), then the crypto would witness major spikes. Hence, AVAX might hit $32 by 2029.

Avalanche (AVAX) Price Prediction 2030

By 2030, the AVAX price might rally to $35 if the trend momentum aligns in favor of Avalanche. Furthermore, AVAX would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.

Conclusion

If Avalanche (AVAX) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Avalanche (AVAX) price prediction for 2023 is $17.70. Comparatively, the bearish Avalanche (AVAX) price prediction for 2023 is $8.95.

If there is a positive elevation in the market momentum and investors’ sentiment, then Avalanche (AVAX) might hit $20. Furthermore, with future upgrades and advancements in the Avalanche ecosystem, AVAX might surpass its current all-time high (ATH) of $146.22 and mark its new ATH.

FAQ

1. What is Avalanche (AVAX)?

Avalanche (AVAX) is the native cryptocurrency of the Avalanche network. AVAX was launched in 2020. Avalanche is an open-source decentralized blockchain for creating dApps and customized blockchains.

2. Where can you buy Avalanche (AVAX)?

Traders can trade Avalanche (AVAX) on the following cryptocurrency exchanges such as Binance, OKX, Deepcoin, CoinW, and Bitrue.

3. Will Avalanche (AVAX) record a new ATH soon?

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

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

Avalanche (AVAX) hit its current all-time high (ATH) of $146.22 On November 21,2021.

5. What is the lowest price of Avalanche (AVAX)?

According to CoinMarketCap, AVAX hit its all-time low (ATL) of $2.79 on December 31, 2020.

6. Will Avalanche (AVAX) hit $20?

If Avalanche (AVAX) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $20 soon.

7. What will be the Avalanche (AVAX) price by 2024?

Avalanche (AVAX) price might reach $22 by 2024.

8. What will be the Avalanche (AVAX) price by 2025?

Avalanche (AVAX) price might reach $24 by 2025.

9. What will be the Avalanche (AVAX) price by 2026?

Avalanche (AVAX) price might reach $26 by 2026.

10. What will be the Avalanche (AVAX) price by 2027?

Avalanche (AVAX) price might reach $28 by 2027.

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