The cryptocurrency market continues its volatile course. Uncertainty causes traders and investors to stay away from the market. This creates a vicious circle, preventing the market from recovering and fostering uncertainty. There is also confusion around AVAX, which has become a star with the hype of recent days. Two master analysts expect sharp movements in opposite directions for the altcoin.
Crypto bear predicts collapse for AVAX!
As you follow from Kriptokoin.com, the market is trying to cope with suffocating uncertainty. In this environment, investors prefer to stay on the sidelines. However, some cryptocurrencies still manage to gain momentum in this environment. One of these was undoubtedly Avalanche (AVAX) until the recent hacking incidents. However, the analyst nicknamed Crypto Capo, whom we know with his pessimistic nature lately, is a collapse for this altcoin project, which has been a rising star lately. By the way, it should be noted that the analyst has made many accurate predictions in the past. Check out this article for the analyst’s accurate predictions.
Crypto Capo shared its AVAX predictions accompanied by a chart. On his chart, the analyst predicts a decline for AVAX from its current price of $10 to $2.62. This means that the altcoin project loses approximately 75% of its value. The analyst also discloses the basket of altcoins in which he opened a short position. Accordingly, the analyst has taken a short position in BNB, AAVE, WAVES, MATIC, SOL, CRO and TRX. Crypto Capo says that CRO is at par, TRX is in loss, but the remaining 5 altcoins are in profit. Finally, the analyst said, “The biggest collapse has not yet occurred!” He warns his followers.
AVAX price chart. Source: Crypto CapoAltcoin Sherpa: AVAX will increase by double digits!
On the other hand, another master analyst named Altcoin Sherpa taka says that Avalanche (AVAX) will increase by double digits. The analyst notes that Avalanche is on an uptrend following the launch of Friend.tech rival Stars Arena, a decentralized social finance application (SocialFi), on the AVAX Blockchain. Meanwhile, its developers launched Friend.tech on Coinbase’s Base Blockchain. The analyst expresses his expectations for AVAX as follows:
AVAX: Buy AVAX due to Stars Arena. It might end up being $12. If Base had a token during FT (Friend.tech) that would also work extremely well. People who don’t want to be exposed to Stars Arena can purchase AVAX and use that instead.
Source: Altcoin SherpaLooking at its chart, the analyst predicts that the Avalanche will face resistance around its current value. So he predicts it will drop to $10.20 before surpassing $12 in November. AVAX was trading at $10.41 at the time of writing. Additionally, the altcoin lost 3.34% on a daily basis due to the Stars Arena hack. According to the analyst, it remains unclear whether Stars Arena has a strong future.
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