Ethereum Competitor Avalanche (AVAX) To Explode In 2022

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The optimistic predictions about some of the digital assets’ prices continue these days.

It’s been just revealed that crypto analyst and trader Michaël van de Poppe analyzes what’s in store for one of the top Ethereum competitors next year.

In a new strategy session, he said that both Avalanche (AVAX) and Solana (SOL) have grown in popularity this year as competitors to Ethereum (ETH).

AVAX price prediction for 2022

Looking closer at AVAX, the trader digs into possible entry points as the smart contract platform is down over 45% from its all-time high of $144.96.

“When we come to potential entry points, we can also start deriving that based on the previous price action.”

He continued and said:

“So if AVAX is going all the way back towards $55 and the previous high, that is still a bullish outcome, and it’s not weird to expect a retrace taking place all the way to there [$55] before we’re going to have a reversal, as usually those levels are getting a test. So that is the entry point numero uno if you’re getting interested in AVAX…The second one is around this block that we have been bouncing from [$65-$85].”

He also believes that AVAX’s deep retracement puts the coin in a solid position to rally next year.

He believes that we will get a corrective period which “we are currently also seeing before we are going to have a new impulse wave taking place in 2022.”

It’s also interesting to note the fact that the analyst is using the Fibonacci extension tool in order to derive potential targets for Avalanche.

He dropped the following price predictions for AVAX: $230, $300, and $370.

The analyst is also expecting a new expansion looking for a new impulse wave that will be coming together with the growth of the ecosystem that will be resulting in that specific move.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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