AVAX Price Analysis January 2022

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AVAX is a token of platform Avalanche. Its current price is around $91.90 by writing, with a low of $8.23 in 2021, with a market cap of 22.4 billion dollars.

Avax Price Analysis January 2022
AVAX Price Analysis January 2022

What is Avalanche?

Avalanche is an open-source, decentralized programmable platform for creating and executing contracts. The smart contracts that run on the Avalanche platform can be programmed with configuration and rules to do anything you want. Emin Gün Sirer founded it in 2020, powered by its native coin, AVAX.

 Avalanche is a blockchain-based platform that aims to provide an open-source framework for building and running applications. By leveraging Avalanche’s decentralized network, developers can create and deploy their decentralized applications without the need for centralized servers. The Avalanche network is capable of processing up to 4,500 transactions per second. It also features a consensus algorithm called Proof of Work (PoW).

What is AVAX Coin?

AVAX is the coin of the Avalanche platform, which is around $91.90 by the time of writing, with a low of $8.23 in 2021. Its current ranking is #11 according to CoinMarketCap, with a market cap of 22.4 billion dollars.

It reached a high of $146.22, with a low of $8.23. AVAX is a cryptocurrency designed to be used in the Avalanche ecosystem. AVAX was created to provide stability, security, and compliance with all regulatory requirements within this emerging market.

AVAX Coin Market Analysis 

It has a total supply of 395,891,290 coins worth around $91.90 with a market volume of 758 billion dollars, whereas the market capitalization is 22.4 billion dollars at writing. 

AVAX Coin Price Prediction

On the 1D timeframe, Avax forms the Symmetrical triangle where the price action formed out the higher highs and higher lows. In contrast, on a 4hour timeframe, it formed out the Bullish bat, and the price got reversed from the PRZ level, which is on 0.886, and then it broke out the neckline of double bottom, and the price is currently respecting out the support level.

For any time, on-demand analysis on $AVAX or any other coin can join our Telegram channel.

Avax Coin Price Prediction
AVAX Coin Price Prediction

Here are some of the best exchanges to buy AVAX.

Nothing in this article is financial advice, and you should only invest in the market you believe is suitable for your portfolio.

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