Avalanche (AVAX) seems to follow the general crypto market uptrend, rallying 2% in the daily charts, 18.3% in the 14-day charts, and 26.4% over the previous month. Moreover, the asset’s price has risen by nearly 172% since March 2023.
AVAX’s upswing began in late October last year, rising from $9.23 on Oct. 21, 2023, to $48.36 on Dec. 26, 2023. The asset currently faces resistance at around $44.
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One reason for AVAX’s stellar performance in late 2023 could be JPMorgan and Citi partnering with the Avalanche Foundation for their real-world asset (RWA) tokenization plans. Moreover, the project released 3 million AVAX tokens into circulation during that time. The tokens went towards staking rewards and may have helped the asset’s price appreciate.
Avalanche (AVAX) weekend price prediction
CoinCodex paints a bullish picture for AVAX in March 2024. According to the platform, the asset could hit a price of $49.59 on Sunday, Mar. 10, 2024. Hitting $49.59 from current levels would translate to a growth of about 14.39%. Furthermore, CoinCodex anticipates AVAX to breach the $100 level by the end of this month, reaching $150.34 by Apr. 4, 2024. Reaching $150.34 from current levels would translate to a growth of over 246%.
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Changelly, on the other hand, is quite bearish on AVAX. The platform predicts the asset’s price to drop to $36.89 on Sunday, Mar. 10, 2024. Reaching $36.89 from current levels would translate to a fall of about 14.9%. However, the platform expects AVAX to climb back up to current levels by the end of the month.
If Bitcoin (BTC) continues its bullish trajectory and reclaims its all-time high, we may see a similar pattern for Avalanche (AVAX) as well.