Avalanche is a popular Layer-1 Proof of Stake smart contract platform. AVAX offers low-latency block times of around one second. The best thing is that AVAX is compatible with ETH Virtual Machine and can transact more than 4500 transactions per second.
AVAX has the highest number of validators of any Proof of Stake network. Avalanche has given significant profits to investors in the past. Check out the AVAX forecast to know the future performance of the coin in the coming years.
While writing this analysis, the AVAX price was trading around $79.59. The momentum of Avalanche is bullish for the short and long term. We can see a sidewise movement on the daily chart. The AVAX price recently rose from the support level of around $74.
However, the MACD line and RSI suggest bearishness on the daily chart, while Bollinger Bands shows a neutral trend. The baseline of the Bollinger Bands ($87) can be a resistance level of this coin.
AVAX coin is vital in the long term; after taking support at the beginning of this year, higher highs and higher lows have formed. Though candlesticks are forming in the lower half of the Bollinger Bands, the price will break the all-time high next year.
Should you invest in Avalanche? We think it is the right time to start investing for the long term because it plays a vital role in the crypto world. AVAX will provide a massive return in the next five years.