Avalanche is the blockchain industry’s quickest smart contract platform, as measured by time-to-finality, which is lightning fast, low-cost, and environmentally friendly.
Avalanche is a blockchain platform for smart contracts with a high throughput. The network is secured by validators using a proof-of-stake consensus protocol. It is claimed to be quick, inexpensive, and environmentally friendly. On September 21, 2020, the mainnet was launched. Since then, the platform has secured over 100+ different projects, $1.4 million in AVAX burns (lowering supply), 950+ individual block-producing validators, and over 500k+ community members worldwide. Pangolin, TraderJoe, and Benqi are examples of decentralized financial (DeFi) applications available on Avalanche. Let us review the AVAX price
AVAX Price Prediction
Bullish Scenario: AVAX might retrace back to support levels $65.58. After retracements, if AVAX manages to break above the resistance level at $71.50 then it would be bullish. Breaking above the $90.83 price level with significant buying volume will lead to a move towards $101.74 and $114.78.
Bearish Scenario: AVAX has been in an uptrend since the last few months so we don’t have a strong bearish bias for mid-term yet. However we can’t ignore the bearish scenarios. If the support level $65.58 doesn’t hold then it will drop further towards $53.62, $41.14 and below sooner or later.
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