An altcoin analyst known for his accurate predictions says that before Bitcoin and Ethereum, a layer one smart contract platform will push ATH levels.
This altcoin is preparing for ATH levels
You can check out the accurate predictions of Smart Contracter with 204,800 Twitter followers, whose analysis we will take a look at here. In his recent tweets, Contracter said that tier one star Avalanche (AVAX) could set a new record among the top 20 cryptos by market capitalization. As it is known, Avalanche is one of the fastest and low-cost smart contract platforms on the market. According to the analyst, AVAX’s downward spiral movements have come to a standstill after months and are preparing to take off:
AVAX’s multi-month drop was broken at the daily close. I believe this will be the first of the top 20 cryptocurrencies to hit all-time highs, far beyond BTC and ETH.
At the time of writing, Avalanche is trading at $91.68, about 37% down from ATH in November 2021.
AVAX technical analysis
The crypto expert stated earlier this month that AVAX’s current pullback is following a three-wave corrective move based on Elliott Wave theory. A dominant trend follows a five-wave pattern, often referred to as I-II-III-IV-V, while a minor corrective trend follows a three-wave pattern, often referred to as ABC according to theory. Smart Contracter states that the result of Avalanche’s decline corresponds to the price of AVAX reaching the critical Fibonacci retracement level of 0.618, confirming its prediction that AVAX will hit all-time highs before Bitcoin and Ethereum:
Altcoin’ I’m a big fan of AVAX when it comes to Not only did it have a strong reaction from a massive 0.618, but it also formed a 3-wave corrective ABC pattern as it moved down from the highs. This is expected to outperform countless cryptocurrencies and perhaps set an all-time high. As
Kriptokoin.com, Avalanche (AVAX), the 9th largest cryptocurrency by market capitalization, exceeded 11 billion dollars in locked total value (TVL) Binance Coin. (BNB) one step closer.
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