Avalanche Price Prediction: 2024, 2025, 2030

AVAX price prediction: Key highlights

1. Primary support and resistance levels

• In the weekly timeframe for AVAX, $9 proved to be the lowest support level.
• $98 can likely be the highest level of resistance for the asset.

2. Market sentiment

• The market sentiment towards AVAX has been neutral to bullish in May 2024. 

3. Predictive forecasts

• Based on our AI/ML predictive models, the average price of AVAX is forecasted to be more than $28 in 2030 and over $65 in 2035.

Given below is a comprehensive weekly technical analysis of AVAX, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

AVAX technical analysis: Can the bulls break out of the pullback?

The Avalanche price prediction for 2024 revealed a tumultuous journey with significant price movements over the past year. 

The analysis commenced with AVAX experiencing a downward trend, where the token dipped to touch the $14 mark by mid-May. This downward trajectory intensified in June, pushing the price below this critical level.
 

By mid-July, AVAX bulls attempted a recovery, driving the price back to test the $14 resistance. However, this effort faced strong rejection, ushering in another sharp decline. 
 

By mid-September, this led AVAX to plummet to its lowest support level for the period at $9. This support level marked a turning point. After a brief period of stabilization, bullish momentum gradually built up again.
 

Late September saw a resurgence of buying pressure. Furthermore, by mid-October, a notable reversal in the trend began. This bullish momentum continued until mid-December, when the token impressively breached the $37 level. Yet, this peak was not sustained, and a corrective pullback ensued, reducing its value to $31 by early January.
 

Late January marked a renewed rally for AVAX, culminating in mid-March when the token peaked at a resistance of $58, the highest for this analysis period. 
 

However, this peak was short-lived as another pullback occurred. This led to a decline in price below the $37 level, settling around $31 by early April. Based on a report by AMBCrypto, fewer entities were using the network to implement smart contracts. Furthermore, there was a decline in network activity, as evidenced by a reduction in the quantity and volume of transactions on Avalanche's decentralized exchanges (DEXs). This may be a significant reason behind the decline in value.
 

Throughout the remaining weeks of April and into early May, AVAX frequently tested the $37 but remained unsuccessful in terms of a breakout. At the time of writing, AVAX was trading at $32.

Recently, the Avalanche network has encountered several difficulties. According to CoinMarketCap’s statistics, the token has experienced a 10% drop in value over the past month. Another report by AMBCrypto highlighted that AVAX fell by 21.52% in terms of returns on interest from January to April, lagging behind most of its altcoin competitors in the market. This resulted in massive losses to its holders.
 

Now, the market presents a dichotomy of possibilities. Significant buyer interest might be the push AVAX needs to reclaim $58 in the coming weeks. An even more optimistic outlook, backed by a prolonged bull run, suggests the next targets would be $80 and $100. Before it reaches the critical psychological level of $100, the $98 level seems to be a significant resistance that bulls need to be aware of. 

However, a continued bearish dominance with a break below the current support could precipitate a fall back to the $19 level. In case of a stronger bearish influence, the altcoin may even fall back to its lowest support at $9 by the end of the year.

Interestingly, our AI/ML predictive models don’t seem strongly bullish on AVAX’s prospects. By 2030, the models project an average trading price exceeding $28. Moving forward, the average price can increase slightly, going over $65 in 2035. This underscores continued confidence in AVAX's long-term potential.

AVAX's 2024 roadmap: Key indicators to watch and trade

• Initially low, the trading volume decreased further as the price approached its lowest support. Notably, it observed recovery during the October rally.
• As the price faced rejection in December, the volume dropped again. Additionally, the March pump led to a brief resurgence in volume, which reversed, given the recent downtick. 
• The Chaikin Money Flow (CMF) dropped into negative territory briefly in June. A more pronounced drop followed at the end of July, signaling selling pressure for almost three months.
• The CMF moved past the zero line again by the end of October. In mid-December, it even went as high as 0.42 before dropping to touch the zero line by early May and surging again. It registered at 0.06 at the time of writing. The asset was still experiencing net money inflows, but the momentum had waned.
• The Directional Movement Index (DMI) offered detailed insights into market direction and strength. At the start of the analysis, the Average Directional Index (ADX) showed a downtrend, mainly staying below both the Positive Directional Indicator (+DI) and the Negative Directional Indicator (-DI) till the latter half of 2023.
• Initially, the +DI line demonstrated superiority over the -DI line, with a slight increase in July and early October. In mid-October, the +DI line ascended, clearly outpacing the -DI line, which saw a decline. 
• In November, the bullish market trend strengthened as the ADX line moved above the -DI line. The +DI peaked at 53.7 in December, followed by a drop below the ADX line in January. As the price dipped in March, the +DI and ADX started to descend while the -DI rose.
• By early April, the -DI and +DI lines had started converging and had even briefly touched before diverging again. At press time, they were nearing. Current indicator values were ADX at 30.0466, +DI at 21.6739, and -DI at 21.1074, with the ADX line dominating. This indicated that the bullish sentiment, while reduced, still dominated over the bearish sentiment.