Recently, Avalanche (AVAX) was able to break out of a multi-month falling wedge pattern indicating a significant rally ahead. Analysts set as high a target as $130 for AVAX over the next 3–6 months.
The breakout follows increased hype around the platform. The hype was a result of the launch of a new game and steady price gains since August.
Well-known analyst CryptoBullet has set immensely high price targets for AVAX in the future months. According to his prediction, the cryptocurrency could reach $130 in the first phase and potentially hit $228.
$AVAX #AVAX broke out of a multi-month Falling Wedge 👀
I’m expecting a good rally in the next 3-6 months 📈
🎯 Target 1 – $130
🎯 Target 2 – $228 pic.twitter.com/oU7EJJrI77— CryptoBullet (@CryptoBullet1) October 13, 2024
– Advertisement –
October to December Price Predictions
According to market predictions, AVAX also holds the possibility to keep going up through the rest of 2024. Looking ahead to October, analysts expect the price to range in the region of $27.51 to $55.57, with an average price target of $41.73.
The overall positive market sentiment is seen pushing this upward by 54.11% from current levels. At the time of writing, the price of AVAX was $11.261. With neutral market conditions, the market is showing weak bearish signals from the MACD.
From October, AVAX is expected to continue its upward momentum throughout November looking to break above the $45.06 resistance line. Traders have a clear direction when it comes to their allocations.
According to the analyst, the cryptocurrency’s average price might even come closer to the upside forecasted at $39.46, implying a potential growth of 63.56% from the present levels.
If market conditions continue to be favorable then there could be significant returns for investors that understand and monitor these trends. By December, the projected price range narrows slightly, with AVAX expected to trade between $38.76 and $41.42.
If the cryptocurrency follows this prediction, it would represent a 45.98% increase compared to today’s prices, with an average price of $40.21. This performance would conclude a strong year for Avalanche, setting a positive foundation for 2025.
Long-Term Outlook for AVAX Through 2025 and Beyond
Analysts foresee a positive forecast for AVAX in 2025, with expected prices ranging from $23.23 to $126.01 till the end of the year. AVAX is expected to trade at around $60.82, which would yield a 357.39% price increase from present levels, with August the most optimistic month.
This forecast positions Avalanche as a strong investment opportunity for both short-term traders and long-term investors. However, the outlook for 2026 is positive and Avalanche is expected to peak at $95.78 in January before showing volatility.
AVAX could hit a low of $24.10 by November, with an average price for the year at $38.76. These estimates indicate a stable but fluctuating market, offering opportunities for both bullish and bearish traders.
By 2027, Avalanche could continue its uptrend, with a projected price of $29.60, which represents a 7.31% increase from current levels. Prices could oscillate from $22.47 in August to $54.35 in November of the year.
With a potential return on investment of 97.00%, AVAX continues to attract attention as a promising long-term asset.
Read the full article here
