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AVAX, the native token of the Avalanche protocol, presented a mixed experience for investors in the month of March. The altcoin initially rose by over 64% to trade above $65 for the first time since May 2022 before declining by 18.44% in the last two weeks.\u00a0<\/span><\/p>\n Unsurprisingly, AVAX\u2019s price movement has drawn much attention from investors and market experts alike. Notably, a popular crypto analyst with the X handle Rekt Capital has advised against panic, stating the recent decline of the altcoin could prove to be rather beneficial for investors.<\/span><\/p>\n In a post on X on March 30<\/a>, Rekt Capital shared that AVAX has suffered an overall decline since encountering the $65-$70 price zone in mid-March. However, the analyst has described this price drop as a \u201chealthy dip,\u201d which could result in the token returning to previously high levels.<\/span><\/p>\n $AVAX<\/a><\/p>\n Avalanche rallied to the $65-$70 area<\/p>\n And is now dipping towards the December 2023 highs (red)<\/p>\n This is a healthy dip to set AVAX up for the next uptrend back to the $65-$70 area again, over time#AVAX<\/a> #Crypto<\/a> #Avalanche<\/a> https:\/\/t.co\/o7s9sU4eIN<\/a> pic.twitter.com\/5QJG2e581Y<\/a><\/p>\n \u2014 Rekt Capital (@rektcapital) March 30, 2024<\/a><\/p>\n<\/blockquote>\n Currently, AVAX trades in the range of $52-$54, but Rekt Capital predicts the altcoin is heading to the region of $44-$49, which represents its highest price points recorded in December 2023. On entering this price zone, Rekt Capital expects the token to find support and embark on an uptrend back to the $65-$70 region.\u00a0<\/span><\/p>\n However, in the presence of overwhelming bearish pressure, the analyst technical analysis revealed that AVAX could drop further to around $32.66, indicating a potential price decline of 39.62% and 49.9% from the coin\u2019s current price and its peak price in March, respectively\u00a0<\/span><\/p>\n At the time of writing, AVAX trades around $53.50 with no significant price movement in the last day, while recording a 0.51% decline over the past week based on data from CoinMarketCap.<\/a> Meanwhile, the crypto asset\u2019s trading volume is down by 16.62% and valued at $370.86 million.\u00a0<\/span><\/p>\n However, AVAX has generally been one of best best-performing assets in the last six months boasting a market gain of 471.35% within this period. Notably, in December 2023, the altcoin rose by about 150% to move from $20.41 to a monthly high of $49.98.<\/span><\/p>\n Off the market, AVAX has also scored some positive strides. Most recently, the Avalanche network announced<\/a> a collaboration with fellow blockchain Chainlink and the prestigious Australia and New Zealand Banking Group (ANZ) targeted at exploring the use of crypto assets in global financial settlement systems. The use of AVAX in such a project would largely amplify the token\u2019s adoption, which would elicit a positive effect on its market price. Featured image from Zipmex, chart from Tradingview<\/em><\/p>\n Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" AVAX, the native token of the Avalanche protocol, presented a mixed experience for investors in the month of March. The altcoin initially rose by over 64% to trade above $65 for the first time since May 2022 before declining by 18.44% in the last two weeks.\u00a0 Unsurprisingly, AVAX\u2019s price movement has drawn much attention from […]<\/p>\n","protected":false},"author":2,"featured_media":274901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-274900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/274900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=274900"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/274900\/revisions"}],"predecessor-version":[{"id":274903,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/274900\/revisions\/274903"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/274901"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=274900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=274900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=274900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}AVAX To Return To $65-$70 Price Zone, Analyst Stands Confident<\/span><\/h2>\n
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Avalanche (AVAX) Price Overview\u00a0<\/span><\/h2>\n
<\/span><\/p>\n\r\nAVAX trading at $53.30 on the daily chart | Source: AVAXUSDT chart on Tradingview.com<\/a><\/span><\/pre>\n