Home Cryptocurrency Avalanche (AVAX) Made a New Attempt to Reach ATH in 2022, but its Price was Rejected

Avalanche (AVAX) Made a New Attempt to Reach ATH in 2022, but its Price was Rejected

by Gordon James

Avalanche was a cryptocurrency which underwent explosive growth in 2018. The project raised $40 million in an ICO, and its value went up exponentially from there, reaching over $1 billion USD at one point before falling back down to around half of that amount by the end of 2019. Recently it has made another attempt with plans for 2021 exceeding previous ones while taking into account all the lessons learned during the last year as well as new information gleaned on price projections.

The “avax price prediction 2025” is a cryptocurrency that was created in 2018. The coin’s value has been rejected by the market, and it has made a new attempt to reach ATH in 2022.

The new year has begun, bringing with it new chances in the cryptocurrency business. The Christmas season has a reputation for being a tumultuous period, and the previous few days have definitely lived up to that.

Some currencies even managed to reach all-time highs, while others were on their way to doing so but ran into difficulties along the road. Avalanche is an example of this, as it began to rebound in the closing days of December before hitting a brick wall on January 1st, 2022.

In the year 2021, there will be an avalanche.

Avalanche (AVAX) had its ups and downs in 2021, but on the whole, the currency had a good year. AVAX’s price began to rise in early January, rising from $3.6 to $13 in only two weeks. Time this level served as a barrier for a while, from January 17th through the end of the month, growth resumed in February, propelling AVAX to over $60 in only ten days.

AVAX corrected to $23 on February 28th, still roughly seven times greater than the coin’s price in early January, after such a quick rise. AVAX pricing was locked between a support at $20 and a resistance at $40 from that moment on, bouncing between these two marks for the next two and a half months. The trend was ultimately broken in mid-May when Avalanche fell due to a market-wide price slump.

The currency dropped from $40 to $20, breaking the support and turning it into a resistance. AVAX did establish a new bottom around $10, and it spent the summer bouncing around between $10 and $15. Things began to shift in early August, and the price of AVAX began to rise once again. It smashed through resistance at $15, then at $20, $40, and almost $60 before losing steam on August 24th, when the price fell to $55.

It sank below $40, which had been its support, before skyrocketing to over $80 by late September. The currency subsequently followed the trend of decreasing below $60 for a short period before surging higher than ever before, reaching a new all-time high of $135 on November 22nd.

Avalanche (AVAX) Made a New Attempt to Reach ATH in 2022, but its Price was Rejected

AVAX’s price corrected again again, this time falling to $80. This wasn’t simply a normal part of AVAX’s cycle; it was also a market-wide collapse that exacerbated the coin’s price loss, leading it to lose over half of its worth. However, by December 21st, AVAX had rebounded to $120.

Its price was dragged back into a bearish wave just as it was about to break through this barrier and transform it into a support, allowing it to soar to a new all-time high in what is now known as the Christmas crash. The fall brought it down to almost $100, but just as it was about to hit that level, Avalanche began to rebound, and on January 2nd, 2022, it achieved the resistance level of $115.

It’s unclear if the market involvement was sufficient to permanently break AVAX’s cycle and halt its positive trajectory. Hopefully, in a short time, the coin will be able to pick up where it left off. Even if it doesn’t, it’s worth noting that AVAX is well ahead of where it was at this time last year, indicating that its upward trend is unmistakably positive. All investors and traders have to do now is wait and see what fresh prospects the currency will have in 2022.

Visit our Investing in Avalanche guide to learn more about this coin.

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The “avax coin news” is a cryptocurrency that has been around for quite some time. AVAX made a new attempt to reach ATH in 2022, but its price was rejected.

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