Last year Avalanche It has been a very active time for (AVAX). Because the altcoin has made a number of large and important partnerships.
AVAX in the last months of 2023 crypto- It was also making some interesting moves in the market, both in terms of price and volume, rising briefly in early October after Stars Arena was launched and before it was heavily hacked.
On the price side, the cryptocurrency was one of the biggest winners of the fourth quarter rally. In this context, it increased by more than 187% compared to January 2023.
Still, it suffered a major decline, like other major players in the market, following a Matrixport report stating that the SEC would not approve a spot Bitcoin exchange-traded fund (ETF) before the second quarter of 2024.
Despite the decline and downward momentum, it has not regained its recent highs. altcoinis still significantly above its price at the beginning of December.
Koinfinans.com As we reported, the altcoin experienced turbulent and turbulent events in late 2023 and early 2024. In this context, Finbold asked the AI for its predictions on whether AVAX will continue to fall in January.
Predictive Algorithm Predicts AVAX Performance in January
CoinCodex algorithms predict a slightly upward trajectory for Avalanche, albeit with significant volatility. Additionally, he predicts AVAX will fall to $32.98 on January 31, 2024.
While this is below its price ($34.44) at the time of publication, it is indicative of anticipated volatility rather than overall price expectations. Extending the outlook into early February, CoinCodex predicts Avalanche will find itself at just above $37 within a month.
This slightly bullish trend is also reflected in Avalanche’s designation as “greed” on the “Fear and Greed Index,” an index that tracks investor sentiment, reflecting a generally neutral sentiment towards the cryptocurrency at press time.
AVAX Price Analysis
While Avalanche has been losing value since Christmas Day, the bearish trend was especially evident on January 3 when it plummeted by nearly 13% along with many other cryptocurrencies.
In general, this downward trend continued in the first week of 2024 and AVAX lost 14.74% in the last 7 days. The decline also showed itself on January 8. Because, as of the date of publication, the cryptocurrency decreased by 0.85% in the last 24 hours to $ 34.44.
On the other hand, Avalanche has increased by 22.68% in total in the last 30 days. It is also significantly above January 2023 prices and is up 186.84% over the last 52 weeks.