In 2021, alongside Solana, known as the Ethereum 
$3,202 killer, another project stood out in the cryptocurrency world. This project was none other than Avalanche (AVAX). During that period, AVAX experienced a remarkable surge, with its price soaring to $146 in a short time. This rise drew all investors‘ attention to AVAX, and it remained in the top 10 for a long time. However, the altcoin’s decline was as sharp as its rise. At the beginning of 2023, AVAX was trading at single-digit prices. Today, investors have one question in mind: Will AVAX rise again?
AVAX Comments
Although AVAX’s price gained strong upward momentum in 2024, it couldn’t sustain it and started to decline again. Despite the drop, it still holds above $20 today, but it remains 83% below its all-time high (ATH).
Nevertheless, it wouldn’t be wrong to say that analysts remain optimistic about AVAX. In this context, the upward statements of two different analysts regarding the altcoin have caught the attention of market participants.
Daniel Ramsey, who commented on X, made an optimistic statement and shared a chart.
Ramsey’s statements were as follows:
#AVAX/USDT Mid-Term Target
I expect more correction and will start accumulating $AVAX between the key levels of $16.40 & $22.
TP1 – $39
TP2 – $55.8
TP3 – $93.8
Following Ramsey, another commentator, The Moon, emphasized that the descending wedge formation, which has existed for about a year, might be breaking.
#AVAX is ready to break out of this massive Descending Wedge that has been forming for almost a year!
Possible mid-term targets: $28, $33, $41.3, and $54.
How Much is AVAX Now?
Still 86% below its ATH, AVAX saw a 7% increase today, rising to $24.20. This rise was part of a 9.70% movement over the past 7 days. More importantly, despite significant declines, AVAX has increased by 11.30% in the last 30 days, which can be interpreted as moving contrary to the market.
Following the rise, AVAX’s market cap reached $9.8 billion, positioning it 12th in the market. On the other hand, its trading volume increased by 36.40%, reaching $271 million, which may indicate that the recent rise in BTC has supported market activity.
