The Avalanche (AVAX) cryptocurrency is back trading below $21, currently slumping 10% in the past week and worrying investors. This comes as large holders of the Avalanche token, aka AVAX Whales, are increasing their net inflows of the cryptocurrency, looking to capitalize on the dipping price.
Over the past month, AVAX experienced a 3.64% decline while the six-month performance showed a steeper drop of 55.30%. The price movement indicates a struggle with downward pressure that has hit the market lately. AVAX did climb a bit following the announcement of FIFA’s blockchain partnership with AVAX, but that has since been reversed. With plenty of uncertainty around the Avalanche network, what’s next for the native AVAC cryptocurrency?
What’s AVAX’s Next Move?
Avalanche AVAX is in a bearish state, and the latest price forecasts suggest that there is less momentum around it than before. Analysts at CoinCodex see the asset reclaiming $21, but not going much further in June. “According to our current Avalanche price prediction, the price of Avalanche is predicted to rise by 5.05% and reach $ 21.51 by July 1, 2025,” the analysts note. “Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 64 (Greed).”
On the other hand, the analysts do forecast a surge later this year for AVAX. Come July 2025, they predict that AVAX could climb to $24, and continue to climb to a year-high of $50.94 come December 2025. The December price forecast would suggest a 146% ROI from current prices, but would be a big move in the uncertain future.
If projects like FIFA’s blockchain and new GameFi titles gain traction, they could drive further AVAX adoption. In turn, it could spark a further surge for the Avalanche cryptocurrency. Further, a rise in whale activity around Avalanche AVAX could also provide a boost. Investors are targeting $30 as a medium-term target if momentum holds, while support sits around $22, and resistance is in the mid-$20s. Avalanche’s new “Fusion” framework is designed to spur growth for the asset and the Avalanche Network.
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