- Avalanche price has faced upward pressure for days but failed to rebound strongly towards yearly highs
- A 12% rise from current levels could revive a decent bullish start for AVAX
- AVAX price has the potential to rise above $50 and hit higher targets in 2025, but sustaining above $42 by early 2025 is crucial
Avalanche (AVAX) has successfully weathered the upward pressure of the market for several consecutive days, albeit failing to confirm a strong rebound towards yearly highs. Despite facing considerable upward pressure, a 12% increase from current levels may ignite a promising bullish momentum. The crypto markets are currently in a state of flux, struggling to overcome resistance while simultaneously defending against bearish onslaughts.
Market Volatility and AVAX’s Stability
Amidst this volatility, the volume of the token has drastically reduced, making cryptos like Avalanche less volatile. In these uncertain times when a further squeeze is anticipated, AVAX’s price is expected to trigger a significant breakout, potentially raising the levels beyond current consolidation.
The Future Growth Potential
Avalanche is amongst the tokens projected to outperform the top two in upcoming price actions, primarily because they are perceived as significantly undervalued at their current price. The price was on a trajectory towards yearly highs ahead of the launch of Avalanche 9000, the platform’s largest-ever upgrade. However, following market trends, the token experienced a more than 30% plunge.
The Future Outlook for AVAX
Despite the token’s inability to rise above $40 over the past week, which may have raised concerns over its future price action, in a broader perspective, AVAX appears poised for a 50% upswing, provided the bulls can instigate a 12% rise before the end of 2024.
Conclusion
Often referred to as the ‘sleeping giant,’ AVAX is believed to possess immense potential and has defended its support to a large extent. Despite market volatility hitting hard and BTC dominance yet to reach highs, altcoins like Avalanche are expected to maintain a sluggish trend. However, AVAX still holds the potential to rise above $50 and approach a higher target, but a rise and sustained level above $42 by the end of the year and the first few days of 2025 is crucial.
