Analysts Eye $50 For Avalanche As AVAX Jumps 28% – Details
14 Novembro 2024 - 3:00PM
NEWSBTC
Avalanche (AVAX) has been on a phenomenal upward trend as overall
market optimism has buoyed it. Recently, the token surpassed
crucial resistance levels fueled by recent Federal Reserve rate
cuts and Donald Trump’s election victory. Related Reading: Shiba
Inu Price Watch: 60% Rally Catches Whale Attention – Is More Growth
Ahead? These events appear to have reignited investor enthusiasm,
thereby increasing interest in the altcoin and driving its price
upward. Currently, AVAX is trading at $33.33, which represents a
28% increase in the past week. Market observers anticipate that it
may reach $50 in the near future. Confidence Encouraged By
Technical Performance Crypto analyst KALEO posted to X, predicting
a price spike for AVAX of up to $50. $50 $AVAX within the next two
days. Book it. pic.twitter.com/oufHApbn4U — K A L E O
(@CryptoKaleo) November 11, 2024 According to a chart provided by
KALEO, AVAX is currently trading within an ascending channel,
suggesting that the momentum is expected to persist. Numerous
investors are enthusiastic about this technical configuration, with
some anticipating additional gains in the near future. The next
obstacle could be the breach of $40 if the upward trend persists,
which would establish the foundation for a rally toward $50 by the
end of the week. Market Sentiment And Institutional Support
Additionally, the recent price increase coincides with an increase
in institutional interest in Avalanche. The renewed engagement from
institutional investors following Trump’s election victory on
November 5 was emphasized by Jason Yanowitz, co-founder of
Blockworks. He mentioned that hedge funds and venture capitalists
have begun increasing their investments, which indicates their
confidence in AVAX’s future development. The token’s value is
anticipated to be further enhanced by the influx of capital into
the market as a result of this institutional activity. Related
Reading: Bitcoin Closing In Fast On $90,000 As Post-Election Rally
Continues Avalanche: Long-term Outlook Remains Optimistic Analysts
are bullish on the long-term prospects of Avalanche. The token is
seen hitting the $90 target for 2024, according to forecasts from
the House of Crypto. Others predict a rally towards $60 and $72 by
December, after which it is possible to rise to $135 toward the
early months of the following year. 😉 P.s This is not financial
advice. Just my thoughts!This Time next year… My price predictions
of top 24 Trending coins. Am I right? $bitcoin – $175,000 $toncoin
– $64 $solana – $920 $dog – $0.13 $icp – $150 $ethereum – $8400
$Kaspa – $1.60 $xrp – $6.20 $pepe -… — The House Of Crypto
(@HouseOfCrypto3) November 11, 2024 The medium and long-term are
still good for AVAX despite short-term volatility and the
possibility of corrections as foreseen in certain estimates. Over
the next three months, the token is expected to grow by over 38%,
and there is an expectation of a 220% growth over the next year.
Thus it becomes an opportunity that will attract many long-term
investors. Avalanche’s performance in the upcoming weeks will be
the primary focus as it continues to acquire momentum. AVAX may be
on the cusp of another significant rally, given its favorable
technical outlook and robust institutional support. Featured image
from DALL-E, chart from TradingView
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