{"id":600559,"date":"2024-03-31T10:00:35","date_gmt":"2024-03-31T10:00:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=600559"},"modified":"2024-06-11T14:41:42","modified_gmt":"2024-06-11T14:41:42","slug":"analyst-avalanche-avax-in-healthy-retreat-potential-rebound-lies-ahead","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/analyst-avalanche-avax-in-healthy-retreat-potential-rebound-lies-ahead\/","title":{"rendered":"Analyst: Avalanche (AVAX) In &#8216;Healthy&#8217; Retreat, Potential Rebound Lies Ahead"},"content":{"rendered":"<p><span style=\"font-weight: 400\">AVAX, the native token of the Avalanche protocol, presented a mixed experience for investors in the month of March. The altcoin initially rose by over 64% to trade above $65 for the first time since May 2022 before declining by 18.44% in the last two weeks.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Unsurprisingly, AVAX\u2019s price movement has drawn much attention from investors and market experts alike. Notably, a popular crypto analyst with the X handle Rekt Capital has advised against panic, stating the recent decline of the altcoin could prove to be rather beneficial for investors.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/avalanche\/avax-price-soars-to-highest-in-nearly-2-years-over-80-of-holders-in-profit\/\" target=\"_blank\" rel=\"noopener \">AVAX Price Soars To Highest In Nearly 2 Years, Over 80% Of Holders In Profit<\/a><\/div>\n<h2><span style=\"font-weight: 400\">AVAX To Return To $65-$70 Price Zone, Analyst Stands Confident<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In <a href=\"https:\/\/twitter.com\/rektcapital\/status\/29262899\/photo\/1\" target=\"_blank\" rel=\"noopener nofollow\">a post on X on March 30<\/a>, Rekt Capital shared that AVAX has suffered an overall decline since encountering the $65-$70 price zone in mid-March. However, the analyst has described this price drop as a \u201chealthy dip,\u201d which could result in the token returning to previously high levels.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$AVAX<\/a><\/p>\n<p>Avalanche rallied to the $65-$70 area<\/p>\n<p>And is now dipping towards the December 2023 highs (red)<\/p>\n<p>This is a healthy dip to set AVAX up for the next uptrend back to the $65-$70 area again, over time<a href=\"https:\/\/twitter.com\/hashtag\/AVAX?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#AVAX<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Avalanche?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Avalanche<\/a> <a href=\"https:\/\/t.co\/o7s9sU4eIN\" rel=\"nofollow\">https:\/\/t.co\/o7s9sU4eIN<\/a> <a href=\"https:\/\/t.co\/5QJG2e581Y\" rel=\"nofollow\">pic.twitter.com\/5QJG2e581Y<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/29262899?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 30, 2024<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">Currently, AVAX trades in the range of $52-$54, but Rekt Capital predicts the altcoin is heading to the region of $44-$49, which represents its highest price points recorded in December 2023. On entering this price zone, Rekt Capital expects the token to find support and embark on an uptrend back to the $65-$70 region.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, in the presence of overwhelming bearish pressure, the analyst technical analysis revealed that AVAX could drop further to around $32.66, indicating a potential price decline of 39.62% and 49.9% from the coin\u2019s current price and its peak price in March, respectively\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/avalanche\/avalanche-unleashes-durango-upgrade-avax-price-rockets-8-with-teleporter-debut\/\" target=\"_blank\" rel=\"noopener \">Avalanche Unleashes Durango Upgrade, AVAX Price Rockets 8% With \u2018Teleporter\u2019 Debut<\/a><\/div>\n<h2><span style=\"font-weight: 400\">Avalanche (AVAX) Price Overview\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">At the time of writing, AVAX trades around $53.50 with no significant price movement in the last day, while recording a 0.51% decline over the past week based on <a href=\"https:\/\/coinmarketcap.com\/currencies\/avalanche\/\" target=\"_blank\" rel=\"noopener nofollow\">data from CoinMarketCap.<\/a> Meanwhile, the crypto asset\u2019s trading volume is down by 16.62% and valued at $370.86 million.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, AVAX has generally been one of best best-performing assets in the last six months boasting a market gain of 471.35% within this period. Notably, in December 2023, the altcoin rose by about 150% to move from $20.41 to a monthly high of $49.98.<\/span><\/p>\n<p style=\"text-align: left\"><span style=\"font-weight: 400\">Off the market, AVAX has also scored some positive strides. Most recently, the Avalanche network <a href=\"https:\/\/uniquehot.com\/avalanche\/avalanche-unleashes-durango-upgrade-avax-price-rockets-8-with-teleporter-debut\/\" target=\"_blank\" rel=\"noopener \">announced<\/a> a collaboration with fellow blockchain Chainlink and the prestigious Australia and New Zealand Banking Group (ANZ) targeted at exploring the use of crypto assets in global financial settlement systems. The use of AVAX in such a project would largely amplify the token&#8217;s adoption, which would elicit a positive effect on its market price.<br \/>\n<\/span><\/p>\n<pre style=\"text-align: center\"><span style=\"font-weight: 400\">\r\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large\" src=\"https:\/\/www.tradingview.com\/x\/fQ8YwmGU\/\" alt=\"AVAX\" width=\"1480\" height=\"893\">AVAX trading at $53.30 on the daily chart | Source:<a href=\"https:\/\/www.tradingview.com\/chart\/xg17RJqK\/?symbol=BINANCE%3AAVAXUSDT\" target=\"_blank\" rel=\"noopener nofollow\"> AVAXUSDT chart on Tradingview.com<\/a><\/span><\/pre>\n<p style=\"text-align: left\"><em>Featured image from Zipmex, chart from Tradingview<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>AVAX, the native token of the Avalanche protocol, presented a mixed experience for investors in the month of March. The altcoin initially rose by over 64% to trade above $65 for the first time since May 2022 before declining by 18.44% in the last two weeks.\u00a0 Unsurprisingly, AVAX\u2019s price movement has drawn much attention from investors and market experts alike. Notably, a popular crypto analyst with the X handle Rekt Capital has advised against panic, stating the recent decline of the altcoin could prove to be rather beneficial for investors. Related Reading: AVAX Price Soars To Highest In Nearly 2 Years, Over 80% Of Holders In Profit AVAX To Return To $65-$70 Price Zone, Analyst Stands Confident In a post on X on March 30, Rekt Capital shared that AVAX has suffered an overall decline since encountering the $65-$70 price zone in mid-March. However, the analyst has described this price drop as a \u201chealthy dip,\u201d which could result in the token returning to previously high levels. $AVAX Avalanche rallied to the $65-$70 area And is now dipping towards the December 2023 highs (red) This is a healthy dip to set AVAX up for the next uptrend back to the $65-$70 area again, over time#AVAX #Crypto #Avalanche https:\/\/t.co\/o7s9sU4eIN pic.twitter.com\/5QJG2e581Y \u2014 Rekt Capital (@rektcapital) March 30, 2024 Currently, AVAX trades in the range of $52-$54, but Rekt Capital predicts the altcoin is heading to the region of $44-$49, which represents its highest price points recorded in December 2023. On entering this price zone, Rekt Capital expects the token to find support and embark on an uptrend back to the $65-$70 region.\u00a0 However, in the presence of overwhelming bearish pressure, the analyst technical analysis revealed that AVAX could drop further to around $32.66, indicating a potential price decline of 39.62% and 49.9% from the coin\u2019s current price and its peak price in March, respectively\u00a0 Related Reading: Avalanche Unleashes Durango Upgrade, AVAX Price Rockets 8% With \u2018Teleporter\u2019 Debut Avalanche (AVAX) Price Overview\u00a0 At the time of writing, AVAX trades around $53.50 with no significant price movement in the last day, while recording a 0.51% decline over the past week based on data from CoinMarketCap. Meanwhile, the crypto asset\u2019s trading volume is down by 16.62% and valued at $370.86 million.\u00a0 However, AVAX has generally been one of best best-performing assets in the last six months boasting a market gain of 471.35% within this period. Notably, in December 2023, the altcoin rose by about 150% to move from $20.41 to a monthly high of $49.98. Off the market, AVAX has also scored some positive strides. Most recently, the Avalanche network announced a collaboration with fellow blockchain Chainlink and the prestigious Australia and New Zealand Banking Group (ANZ) targeted at exploring the use of crypto assets in global financial settlement systems. The use of AVAX in such a project would largely amplify the token&#8217;s adoption, which would elicit a positive effect on its market price. AVAX trading at $53.30 on the daily chart | Source: AVAXUSDT chart on Tradingview.com Featured image from Zipmex, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":600560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[9885,83347,86511,83609,10709,91974],"class_list":["post-600559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-avalanche","tag-avax","tag-avaxusd","tag-avaxusdt","tag-price-prediction","tag-price-rebound"],"acf":[],"yoast_head":"\n<title>Analyst: Avalanche In &#039;Healthy&#039; Retreat, Potential Rebound Looms<\/title>\n<meta name=\"description\" content=\"Despite AVAX recent decline, crypto analyst has called for no panic, stating the price drop altcoin could prove to be rather beneficial.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/analyst-avalanche-avax-in-healthy-retreat-potential-rebound-lies-ahead\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analyst: Avalanche In &#039;Healthy&#039; 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