$30

Over the course of this year, the price of Avalanche (AVAX) has fared admirably, moving from a low of about $9 to a high of $24 before reversing back down to its previous level. After the downturn, the alternative cryptocurrency has been trading in a narrow range between $20 and $21 since then. Nevertheless, according to the forecast of one cryptocurrency specialist, this might not persist for a significant amount of time.
There is a rising bullish wave toward AVAX.
Babenski, a cryptocurrency expert, has revealed their positive forecast for the price of AVAX in the future. Based on the analyst's assessment, the digital asset may be on the verge of experiencing an extraordinary run that has the potential to overcome a number of negative resistances and drive its price to $30.
One of the most important aspects of Babenski's study is the Exponential Moving Average (EMA100), which they consider to be a dynamic support system for the alternative cryptocurrency. This started during the rally that took place in October, when prices began to rise and AVAX did not drop the EMA100 despite the fact that it saw many corrections.
In addition, the price of the alternative cryptocurrency reached a point where it was close to the EMA100 on the 4-hour chart that the analyst presented. The price, however, bounced off of this dynamic support and proceeded on its merry way. This dynamic support stayed in place once again. It appears that there is a significant amount of support for the asset at this level.
The cryptocurrency researcher also adds that the price of AVAX has broken out of a bullish pennant, which is another positive development. The fact that the price resumed its upward trend over $21 is demonstrated by the chart's appearance. Considering that this breakthrough "Looks bullish in short term," the analyst believes that it has the potential to drive the price to $30.
On the other hand, the bullish trend is not the only one that is spinning for the price of AVAX. It is still possible for the alternative cryptocurrency to lose its dynamic support, despite the fact that bulls continue to have a solid grip on the market. In the event that this occurs and the price falls, Babenski uncovers the fact that the subsequent substantial support is situated in close proximity to the price level of $17.
Additionally, the Avalanche network has witnessed an increase in the utilization of its network, which have the potential to contribute to the anticipated increase in the price of AVAX. Ordinals have successfully found their way to the Avalanche network, following in the footsteps of the Polygon network. The adoption of Ordinals has resulted in an increase in the number of transactions.
Over the course of the previous week, Ordinals minting was responsible for around 96% of the overall transaction counts. Additionally, as the fees on the network climbed, the demand for AVAX also increased. Avalanche has also introduced its own new explorer, which comes after the company severed its relations with Etherscan. The network has just made the transition to a new multichain explorer, which is far more affordable than the one they were previously using, Etherscan.
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