Avalanche is Trading -24.08% Below Our Price Prediction for Dec 13, 2024

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Avalanche is up 3.18% today against the US Dollar
AVAX/BTC increased by 3.15% today
AVAX/ETH increased by 3.58% today
Avalanche is currently trading 24.08% below our prediction on Dec 13, 2024
Avalanche gained 89.61% in the last month and is up 66.88% since 1 year ago

Avalanche price	$ 53.63
Avalanche prediction	$ 70.63 (32.76%)
Sentiment	Bullish
Fear & Greed index	79 (Extreme Greed)
Key support levels	$ 50.98, $ 50.29, $ 49.28
Key resistance levels	$ 52.68, $ 53.69, $ 54.39

AVAX price is expected to rise by 32.76% in the next 5 days according to our Avalanche price prediction

Avalanche price today is trading at $ 53.63 after gaining 3.18% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 3.05% in the same time period. AVAX performed well against BTC today and recorded a 3.15% gain against the world’s largest cryptocurrency.

According to our Avalanche price prediction, AVAX is expected to reach a price of $ 70.63 by Dec 13, 2024. This would represent a 32.76% price increase for AVAX in the next 5 days.

AVAX Price Prediction Chart

Buy/Sell Avalanche

What has been going on with Avalanche in the last 30 days

Avalanche has been displaying a positive trend recently, as the coin gained 89.61% in the last 30-days. The medium-term trend for Avalanche has been bullish, with AVAX increasing by 122.66% in the last 3 months. The long-term picture for Avalanche has been positive, as AVAX is currently displaying a 66.88% 1-year price change. On this day last year, AVAX was trading at $ 32.14.

Avalanche reached its all-time high price on Nov 21, 2021, when the price of AVAX peaked at $ 146.18. The current AVAX cycle high is $ 65.26, while the cycle low is at $ 8.69. AVAX has been displaying high volatility recently – the 1-month volatility of the coin is at 18.56. Avalanche recorded 18 green days in the last 30 days.

Avalanche technical analysis for today – Dec 08, 2024

The sentiment in the Avalanche markets is currently Bullish, and the Fear & Greed index is reading Extreme Greed. The most important support levels to watch are $ 50.98, $ 50.29 and $ 49.28, while $ 52.68, $ 53.69 and $ 54.39 are the key resistance levels.

Bullish sentiment for Avalanche

28 indicators are currently signaling a bullish prediction for Avalanche, while 2 indicators are showing a bearish forecast. With 93% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Avalanche.

Crypto market is currently experiencing Extreme Greed

Currently, the Fear & Greed index is at 79 (Extreme Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Avalanche moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Avalanche is positioned in the market right now.

Period	Daily Simple	Daily Exponential	Weekly Simple	Weekly Exponential
MA3	$ 43.75 (BUY)	$ 41.52 (BUY)	–	–
MA5	$ 47.86 (BUY)	$ 37.67 (BUY)	–	–
MA10	$ 46.60 (BUY)	$ 33.45 (BUY)	–	–
MA21	$ 43.03 (BUY)	$ 30.40 (BUY)	$ 12.10 (BUY)	$ 30.45 (BUY)
MA50	$ 34.18 (BUY)	$ 27.93 (BUY)	$ 22.55 (BUY)	$ 29.49 (BUY)
MA100	$ 30.03 (BUY)	$ 27.48 (BUY)	-$ 6.78 (BUY)	$ 24.58 (BUY)
MA200	$ 31.05 (BUY)	$ 28.70 (BUY)	$ 7.69 (BUY)	$ 4.53 (BUY)

Period	Value	Action
RSI (14)	73.77	SELL
Stoch RSI (14)	49.74	NEUTRAL
Stochastic Fast (14)	76.52	NEUTRAL
Commodity Channel Index (20)	66.67	NEUTRAL
Average Directional Index (14)	50.61	BUY
Awesome Oscillator (5, 34)	13.72	NEUTRAL
Momentum (10)	7.70	NEUTRAL
MACD (12, 26)	0.47	NEUTRAL
Williams Percent Range (14)	-23.48	NEUTRAL
Ultimate Oscillator (7, 14, 28)	60.59	NEUTRAL
VWMA (10)	50.16	BUY
Hull Moving Average (9)	53.69	SELL
Ichimoku Cloud B/L (9, 26, 52, 26)	43.14	NEUTRAL

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Avalanche is at 73.77, suggesting that AVAX is currently overbought.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Avalanche over the last 50 days. Currently, Avalanche is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the AVAX closing price for the last 200 days. AVAX is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Avalanche prediction

After considering the above factors, we can conclude that the current forecast for Avalanche price prediction is Bullish. AVAX would have to increase by 32.76% to hit our $ 70.63 target within the next five days. Moving forward, it will be important to monitor the AVAX market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Avalanche price predictions click here.

Source: https://coincodex.com/article/56736/avalanche-prediction-december-08-2024/