AVAX Poised For 2025 Surge: Analyst Predicts $382 All-Time High
11 Agosto 2024 - 9:00AM
NEWSBTC
Cryptocurrency enthusiasts are ecstatic after AVAX mapped out the
first signs of a probable breakout, and a famous crypto analyst
fueled the wave of optimism with his bullish forecast. The expert,
Alan Santana, believes that AVAX graphs look pretty much alike
compared to Bitcoin before it surged in price. Now, can AVAX be
about to replay this scenario? An in-depth analysis and further
explanation are provided here. Related Reading: Dogecoin Major
Metrics Fire Bullish Signals, Can Price Cross $0.5 Drawing
Parallels With Bitcoin Santana’s analysis hinged on the idea that
Avalanche’s elongated consolidation phase throughout 2022 and 2023
is quite in resemblance with those phases in Bitcoin’s history. He
had, in particular, mentioned that the plunge of Bitcoin from
$70,000 to $49,000 was followed by a 4.5-month consolidation phase
before the cryptocurrency began to recover. Similarly, Bitcoin’s
resurgence above $20,000 in 2023 came after a seven-month
accumulation period. ✴️ Avalanche Pre-2025 Bull-Market Accumulation
Zone & Strategy By now, you already know the theme…
Accumulation before bullish-wave. Bullish wave to end in a
bullish-run. Avalanche vs Bitcoin: An Analogy The accumulation
phase can be seen as the training phase, the…
pic.twitter.com/bEsEAD1QJk — Alan Santana (@lamatrades1111) August
10, 2024 Santana believes these historical cases prove that AVAX
might be gearing for a mammoth bull market as far ahead as 2025.
According to him, this moderate wave of bullishness seen towards
the tail end of 2023 and early 2024 is just a minor phase within
the grand plan of the bigger market structure. It is an era of
correction that has to happen, according to Santana, which would
then give way to another accumulation period and is supposed to be
paving the way for a substantial bullish breakout. New All-Time
Highs Ahead? Santana believes AVAX could reach a new ATH of $382.
He based his projection on the extension of Fibonacci levels from
the low of the bear market to the previous ATH. According to
Santana, two key levels in this analysis are 1.618 and 2.618, with
respective price targets of $232 and $370 respectively. Under the
assumption that everything unfolds as predicted, then, in this
case, AVAX will become among the best performing cryptocurrencies
within the next few years. While these figures may look optimistic,
they are in direct adherence to the trend seen in other popular
cryptocurrencies. As Santana points out, long-term predictions such
as this should be taken very cautiously, but he exudes full
confidence in AVAX. AVAX: The Case For A ‘Buy And Hold’ Strategy
Santana was advising a “buy and hold” approach for investors. He
advised against perfect timing of the market, lest one is not
investing at all while waiting for a possible price dip. Instead,
Santana suggested establishing a price range within which AVAX
could be gradually accumulated, especially below $20, and then just
holding the tokens for the long term until the market turns
bullish. Related Reading: Bitcoin Death Cross Threatens To Trigger
Crash If Price Does Not Hold $62,000 Market Sentiment &
Technical Indicators Although the market sentiment at the moment
would turn out to be more neutral, as reflected by a Fear &
Greed Index score of 45, there are some rays of optimism. According
to CoinCodex, the price prediction backing the strong bull run
states that AVAX might rise to a value as high as $72.68, up by
230.17%, as soon as September 2024. If one had to view the recent
performance of the asset, with its average volatility and changes
of 12.42% over the past month, it would give the feeling that AVAX
is trading cheap. On the other hand, considering that the Fear
& Greed Index is relatively low, it underprices the potential
of AVAX within the market correspondingly, making it an excellent
opportunity for buying before a probable rally. Featured image from
Pexels, chart from TradingView
Avalanche (COIN:AVAXUSD)
Gráfica de Acción Histórica
De Jul 2024 a Ago 2024
Avalanche (COIN:AVAXUSD)
Gráfica de Acción Histórica
De Ago 2023 a Ago 2024