Avalanche (AVAX) Price Prediction 2022: Is $350 EOY Price Possible?

Avalanche (AVAX) Price Prediction 2022: Is $350 EOY Price Possible?
  • Bullish Avalanche (AVAX) price prediction 2022 is $125.
  • Conservative AVAX price prediction 2022 is $75.
  • Avalanche is a blockchain ecosystem similar to Ethereum, albeit faster and more scalable.

Important: This Avalanche (AVAX) price prediction 2022 is purely based on the writer’s knowledge in technical analysis alone. Price analysis articles of other platforms may use different technical analysis signals and indicators that may influence their AVAX price forecast outcome differently. Hence, we strongly suggest to do your own research before buying AVAX. 

Avalanche took the world by surprise when it suddenly spiked to become one of the leading cryptocurrencies today in terms of market capitalization. In fact, not many people even know what Avalanche does and what it stands for.

To bring the uninitiated up to speed, Avalanche is a blockchain ecosystem similar to Ethereum. Specifically, it enables developers to create and deploy smart contracts. Therefore, companies can create their own decentralized applications (DApps), establish their own decentralized finance (DeFi) protocol, and more.

Avalanche’s native cryptocurrency is AVAX. At the time of writing, AVAX is the 10th cryptocurrency on CoinMarketCap and CoinGecko.

For those who may be asking, “What is Avalanche (AVAX), and is AVAX a good cryptocurrency to invest in 2022?”, worry not. We’ve got you covered.

What Is Avalanche (AVAX)?

As said above, Avalanche (AVAX) is a cryptocurrency that functions as the native gas and utility coin in the Avalanche ecosystem. It has a maximum supply of 720 million only, which means that it is scarce compared to other contemporaries.

AVAX’s scarce supply is possibly one of the reasons for its high valuation.

Meanwhile, Avalanche describes itself as the fastest smart contract platform in existence, as measured by time-to-finality. It has its own unique consensus protocol, although it employs the so-called Directed Acyclic Graph (DAG). However, Avalanche bills that it is highly compatible with Ethereum.

As stated above, Avalanche enables smart contracts. This means that developers can create DApps and launch DeFi protocols, on top of enabling non-fungible tokens (NFTs).

AVAX Overview (At the time of writing)

CryptocurrencyAvalanche
TokenAVAX
Price$76.97
Market Capitalization$20,668,879,187
Total Supply377,752,194
24-h Trading Volume$721,965,946
All-Time High$144.96
All-Time Low$2.80

Avalanche (AVAX) Price Prediction 2022

AVAX is highly liquid due to its listing on most leading exchanges. However, will AVAX have a breathtaking price movement this 2022? Let us head to the charts in this AVAX price prediction 2022!

AVAX/USDT 1-day chart (source: TradingView)

As seen on our 1-day chart, AVAX is trading within the critical support zone. This has proven to be a strong base since November 2021. It would take massive FUD for this support to fail. Specifically, this support zone is found between $75 and $80.

Traders who want to make a profit in the coming weeks may opt to buy at this level since it history has shown that bulls have never given up this territory to the bears. The Relative Strength Index (RSI) also indicates that AVAX is close to the oversold state.

AVAX Relative Strength Index (source: TradingView)

Given the charts above, traders may want to stack AVAX in the next couple of days and hold prior to reaching $100. In the previous chart, we have indicated the first blue line near $100, which signifies the first psychological resistance level. Traders may need to take caution at this level because it will be risky to hold AVAX if they are looking for a quick profit.

Fortunately, we are seeing a current uptrend, as displayed by higher highs and lower lows. The pattern does not resemble any obvious bullish signal such as a Falling Wedge or a pennant, but a Cup and Handle is still possible.

AVAX Price Prediction 2022: Make or Break?

Meanwhile, the 1-week chart shows a very interesting signal. Let’s decipher the chart below.

AVAX/USDT 1-week chart (source: TradingView)

Since July 2021, AVAX price has been maintaining a solid weekly uptrend. Interestingly, the chart has not failed even once. However, we will be able to see this week whether this will be broken or upheld.

The last two weekly candles have been red, and we have yet to see if the third weekly candle will also turn out red. If this happens, then the uptrend has been broken. This is very bearish, and investors need to take extra caution moving forward.

Conversely, this may be unprecedented yet, so the market cannot really determine yet whether AVAX price will go below $60 or not. Furthermore, another consolation for bulls is that the $75-$80 support range remains strong. It will take a huge market dump for bears to breach this level.

Market Prediction for AVAX Price 2022

Digitalcoin

Digitalcoin is a well-known crypto price analysis platform with automated tools. Based on the platform’s metrics, AVAX price may reach around $103.80 in 2022.

Wallet Investor

Wallet Investor is also another reputable crypto price forecast platform that aggregates historical pricing data. According to the platform, AVAX price prediction forecast in 2022 may reach up to  $156.234.

Market Prediction for Avalanche (AVAX) Price 2023, 2024, and 2025

AVAX price prediction 2023 is up to $200 (estimated)

AVAX price prediction 2024 is up to $350 (estimated)

AVAX price prediction 2025 is up to $800 (estimated)

AVAX price prediction 2026 is up to $1,200  (estimated)


Conclusion

Avalanche appears to be an appealing cryptocurrency to invest in 2022. It has good fundamentals as well as technicals, and as long as the market does not suffer any more massive FUDs, we can expect the price to look promising this year. Therefore, our bullish AVAX price prediction forecast for 2022 is $125. 

While others may claim AVAX can reach $350 easily, our technical analysis concludes that it is more of a stretch. Meanwhile, a more conservative AVAX price prediction for 2022 is $75.

FAQ

Is Avalanche (AVAX) a good investment?

Technical analysis aside, Avalanche (AVAX) is a good investment due to its strong fundamentals. It has a strong team and community that continue to support its growth and adoption. However, just like any cryptocurrency, AVAX is subject to high volatility. That is why we advise investors to do their own research before investing in cryptocurrencies.

How long does an Avalanche transaction take?

Interestingly, Avalanche takes only about a few seconds for any transaction to complete. Of course, any transaction on Avalanche will require users to spend a certain amount of AVAX as a gas fee. Without this, the transaction has a high probability of failing.

What is Avalanche’s Multiverse?

According to the official website, this Avalanche Multiverse is a $290 million incentive program. Moreover, this is an initiative from Ava Labs to grow Avalanche’s network of subnets.

Disclaimer: The views and opinions in this article belong to the writer alone and they do not necessarily reflect the position of CryptoNewsLand (CNL). No information in this article, whether express or implied, should be taken as financial advice. Remember that investing in cryptocurrency poses significant risks to your asset. Hence, CNL strongly recommends all readers to perform their own in-depth research before investing in cryptocurrency.

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