Avalanche (AVAX) appears to be following the overall trend of the cryptocurrency market, rising 2% on the daily chart, 18.3% on the 14-day chart, and 26.4% compared to last month. Furthermore, the price of this asset has increased nearly 172% since March 2023.
The upward movement of AVAX started in late October last year, rising from $9.23 on October 21, 2023, to $48.36 on December 26, 2023. The asset is currently facing resistance around $44.
One reason for AVAX’s outstanding performance towards the end of 2023 could be the collaboration between JPMorgan and Citi with Avalanche Foundation for their Real-World Assets (RWA) crypto plans. Additionally, the project released 3 million AVAX tokens into circulation during that time. The tokens were geared towards staking rewards and may have helped drive up the asset’s price.
Weekend price prediction for Avalanche (AVAX)
CoinCodex has painted a bullish picture for AVAX in March 2024. According to the platform, the asset could reach a price of $49.59 on Sunday, March 10, 2024. This would result in a growth of approximately 14.39% from the current level. Furthermore, CoinCodex predicts that AVAX will surpass the $100 mark by the end of this month, reaching $150.34 on April 4, 2024. Achieving $150.34 from the current level would lead to a growth of over 246%.
On the other hand, Changelly has a rather bearish view on AVAX. This platform predicts that the asset’s price could fall to $36.89 on Sunday, March 10, 2024. This would result in a decrease of approximately 14.9% from the current level. However, the platform expects AVAX to rebound to the current level by the end of the month.
If Bitcoin (BTC) continues its upward trajectory and reaches new all-time highs, we may also see a similar pattern play out for Avalanche (AVAX).
