Avalanche Price Prediction as Analysts Suggest AVAX Nearing Bottom – Bull Run on the Horizon?
Avalanche (AVAX) price predictions are turning more bullish in wake of the cryptocurrency recovering back above $30, with analysts increasingly betting that the Avalanche price is nearing a near-term bottom.
The Avalanche price was last around $30, having bounced more than 10% from earlier weekly lows around $27.
But the Avalanche price is still down a massive 40% from its December highs above $50.
Hence, dip buyers are increasingly attracted to the market.
X account @MTI_Trading bets that the Avalanche price would only need to fall a little more for a good entry point for the bull market.
$AVAX is already 45% down. A little bit more and you have a good entry for the bull run. If you want to be more safe just wait for the next buy signal!#Avalanche pic.twitter.com/eUW2GdMNQz
— Sam Mti (@MTI_Trading) January 23, 2024
@BlockVoyager, meanwhile, thinks that the Avalanche price is in a corrective pattern with bullish sentiments, and cites analysts betting on 10x returns.
Avalanche (AVAX) price analysis indicates potential bottom near as it rebounds from $27.21 low. Technicals suggest corrective pattern with bullish sentiments; analysts anticipate a 10x increase. Despite uncertainties, a breakout from the channel may lead to a 35% surge to $42…
— BlockVoyager (@BlockVoyagerAIO) January 25, 2024
The corrective pattern they are likely referring to is a short-term downtrend which some technicians might identify as a bullish flag pattern.
These often signal upside breakouts after a short price correction.
Despite having pulled 40% lower from recent highs, at $30, the Avalanche price is still up around 3.5x from its late-2023 bear market lows.
So, arguably, the cryptocurrency remains very much in a bull run.
Assuming it can hold above key
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