✅Analysts: Avalanche (AVAX) is in a 'healthy' retreat with a potential rebound in sight💥💥
☁️AVAX is the native token of the Avalanche protocol and brought a sophisticated experience to investors in March. The altcoin initially rose more than 64%, topping $65 for the first time since May 2022, before falling 18.44% over the past two weeks. 📊
✅ Analysts are confident that AVAX will return to the $65-70 price zone
In a post on March 30 X, Rekt Capital said that AVAX has fallen overall since entering the $65-$70 price zone in mid-March. However, analysts have described this price drop as a "healthy drop," which could lead to a return to the coin's previous high levels.
Currently, AVAX is trading in the $52-$54 range, but Rekt Capital predicts that the altcoin will head towards the $44-$49 area, which is the highest price point recorded in December 2023. Upon entering this price zone, Rekt Capital expects the coin to move towards the $44-$49 zone. Find support and start an uptrend, back to the $65-70 zone.
✅Avalanche (AVAX) price overview
At the time of writing, AVAX is trading at around $53.50 and has not seen significant price movements on the last day, but is down 0.51% over the past week, according to CoinMarketCap. At the same time, the crypto asset's trading volume decreased by 16.62% to a value of $370.86 million.
However, AVAX overall has been one of the best performing assets over the past six months, with the market gaining 471.35% during that time. Notably, in December 2023, the altcoin rose by about 150%, from $20.41 to a monthly high of $49.98.📈
Outside of the market, AVAX has also seen some positive developments. Recently, the Avalanche Network announced a partnership with blockchain Chainlink and the renowned Australian and New Zealand Banking Group (ANZ) to explore the use of crypto assets in the global financial settlement system.🤑
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