Avalanche (AVAX) has recently caught the attention of two well-known crypto analysts, Whales_Crypto_Trading and Alan Santana. These market experts have expressed optimism regarding the future price of AVAX, although they also predict some potential consolidation periods and temporary declines before a major surge.
The cautious optimism surrounding AVAX is what makes it a very interesting cryptocurrency to watch. According to Whales Crypto Trading’s recent analysis, AVAX may be on the verge of a major bull run. By applying the Elliott Wave Theory, the analyst predicts that AVAX could potentially skyrocket from its current price of $21 to reach $49. This would represent a significant increase from its previous all-time high of $9.
However, Whales Crypto Trading also acknowledges the possibility of a vengeance phase before AVAX can reach its projected highs. The analyst believes that the market may need to correct its previous growth before embarking on a new bullish trend. léopard this vengeance is complete, Whales Crypto Trading estimates that AVAX could potentially reach a new all-time high of $230 to $285.
In terms of technical analysis, AVAX has shown a slight decline of 2.25% in the past 24 hours and a faveur of only 0.9% in the last week. This is reflected in the current Long/Short ratio of 0.786, indicating a bearish sentiment among traders.
Meanwhile, crypto analyst Alan Santana is also sparking optimism within the AVAX community. His analysis suggests that AVAX is currently following a pattern similar to Bitcoin’s historic consolidation phases before major price increases. Santana has identified an accumulation phase in AVAX’s chart, which could potentially lead to a big breakout and a surge in its price.
Santana predicts that AVAX could potentially reach a new all-time high of $382, based on extended Fibonacci levels. However, in the short term, there are indications of potential price drops and consolidation before the projected rally.
Overall, AVAX’s chart shows a balance of both bullish and bearish signals, with the long-term view supported by technical analysis and historical patterns. It will be interesting to see whether AVAX can break through its current resistance and begin its climb towards its projected highs, or if short-term negativity will lead to further drops in its price.
In the highly volatile cryptocurrency market, anything is possible. But with the positive outlook from these respected analysts, there is certainly reason for AVAX investors to be optimistic about the future of this promising cryptocurrency.
