$500 million in Trading Volume Pumps AVAX Price 18% in 7 Days: Avalanche Price Prediction
Over the past 24 hours, AVAX has traded in the negative. The market's gains throughout last week's turmoil were positive for the token. AVAX has gained 18.6% over the past week, but as the bearish momentum develops, these gains may be lost.
Price prediction for avalanches
AVAX is losing the impetus of its weekly ascent. The token rose from $16 to $19 thanks to recent gains. However, this upward trend has faltered, and the token is once more sinking. The likely outcome is $15 as the market corrects for the anticipated interest rate hike on Wednesday following this month's FOMC meeting.
Investors believe that this token may go higher in the long run, after which a rally to $20 may be imminent, despite the fact that the price is correcting. Over $457 million worth of AVAX trade has taken place over the last 24 hours. The finest cryptocurrency apps are increasingly adopting the network, which will be credited with these advantages.
The Relative Strength Index, which is currently at 43, indicates that AVAX is more likely to be oversold, which is a bullish perspective. Traders who take profits at steep discounts may stop additional drops or start a small rally.
After Ethereum, Binance Smart Chain, and Tron, the Avalanche total value locked (TVL) is presently the fourth-largest one, according to DeFiLlama. A increase in the TVL might spark a significant rally that would see $50 long-term regained.
Dash 2 Trade might 50 times detonate.
The rise in TVL for Avalanche has a beneficial long-term impact on the price of AVAX. Trading opportunities exist now for those who believe the token will experience a bullish trend. AVAX's ability to go up in price, nevertheless, is primarily dependent on how the whole cryptocurrency market does.
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