Avalanche is a layer-one blockchain platform. It is designed to host decentralized applications and custom blockchain networks. It competes with Ethereum to become the most popular blockchain for smart contracts.
It aims to achieve this by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability. It uses a unique consensus mechanism called the Snow protocol which is based on a Proof-of-Stake (PoS) mechanism.
Avalanche price has been on a six-day gaining streak and witnesses a bullish outlook in the short term. The price gained over 17.5% in a week and over 114% in a month. The technical indicators imply that the price has surpassed the 50-day and 200-day EMA which may later act as a dynamic support.
It had a 24-hour trading volume of $733.79 Million with a drop of 5.11% as compared to the previous day. The live market cap is $7.97 Billion and stands 13th among the top cryptos. The volume-to-market cap ratio is 9.57% indicating mild volatility in the market.
Avalanche Price Prediction November 2023
The price action analysis illustrates that the AVAX price trend had turned optimistic after the breakout above the trendline resistance.
Earlier, the price trend favored the bears and formed a descending triangle pattern. However, the bulls dominated near the support level and surged the price with volume. The breakout above the trendline resistance triggered a short covering among the sellers and the price experienced a bullish rally.
The price prediction for November 2023 showcases a neutral to bullish outlook. The price may reach a high of $25.01 if it continues to surge with the same momentum. However, if the momentum ceases, the price may drop to a low of $15.6.
Avalanche Price Prediction 2023
The most optimistic analysts expect that the AVAX price may surpass $30.2 by 2023, indicating an upside potential of 34.98% from CMP. The price trend follows an upward trajectory which may keep adding more buying volume at the dips. The minimum price up to which AVAX price may advance by 2023 end is $24.8.
Avalanche Price Prediction 2024
As per the analysts, the most optimistic target that Avalanche price may achieve is $39.70; indicating an upside potential of 78.81% from the CMP. The average analyst price target is $31.30 by the end of 2024.
Avalanche Price Prediction 2025
Over the next three years, the optimistic view of analysts expect that AVAX price may reach a maximum of $58. The price may surpass $44.4 according to the average forecast of analysts. The minimum forecasted price by the end of 2025 is $33.97.
Avalanche Price Prediction 2026
The AVAX price may reach a high of $84 if a positive trend prevails for the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $54.2 by 2026.
Avalanche Price Prediction 2027
According to the analysts’ price prediction for the year 2027, the most optimistic view for AVAX crypto estimates a price target of $98.82. The average analysts’ price target is $72.28 and the minimum price target that the AVAX crypto may achieve by 2027 is $67.3.
Avalanche Price Prediction 2028
Over the next five years, Avalanche has an optimistic future and might show a massive return till 2028. The optimistic analysts estimate a 500% return by 2028. The price may reach a high of $123.1.
The average price target that it may reach is $97.6. On the contrary, the most pessimistic view of analysts is that the price will reach $82 in the next five years.
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.