Analyst: Avalanche (AVAX) In ‘Healthy’ Retreat, Potential Rebound Lies Ahead

AVAX, the native token of the Avalanche protocol, presented a mixed experience for investors in the month of March. The altcoin initially rose by over 64% to trade above $65 for the first time since May 2022 before declining by 18.44% in the last two weeks.  Unsurprisingly, AVAX’s price movement has drawn much attention from investors and market experts alike. Notably, a popular crypto analyst with the X handle Rekt Capital has advised against panic, stating the recent decline of the altcoin could prove to be rather beneficial for investors. Related Reading: AVAX Price Soars To Highest In Nearly 2 Years, Over 80% Of Holders In Profit AVAX To Return To $65-$70 Price Zone, Analyst Stands Confident In a post on X on March 30, Rekt Capital shared that AVAX has suffered an overall decline since encountering the $65-$70 price zone in mid-March. However, the analyst has described this price drop as a “healthy dip,” which could result in the token returning to previously high levels. $AVAX Avalanche rallied to the $65-$70 area And is now dipping towards the December 2023 highs (red) This is a healthy dip to set AVAX up for the next uptrend back to the $65-$70 area again, over time#AVAX #Crypto #Avalanche https://t.co/o7s9sU4eIN pic.twitter.com/5QJG2e581Y — Rekt Capital (@rektcapital) March 30, 2024 Currently, AVAX trades in the range of $52-$54, but Rekt Capital predicts the altcoin is heading to the region of $44-$49, which represents its highest price points recorded in December 2023. On entering this price zone, Rekt Capital expects the token to ……