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BENQI Liquid Staked AVAX

BENQI Liquid Staked AVAX (SAVAX) Price Prediction 2024, 2025, 2026, 2027, 2028

Are you curious about the future of BENQI Liquid Staked AVAX? Our technical analysis brings you the latest BENQI Liquid Staked AVAX price prediction for 2024 and beyond. We explore market trends and analyze sentiment to help you make informed decisions about your cryptocurrency investments.
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Current BENQI Liquid Staked AVAX Price
$34.52 -0.56221% (1D)
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BENQI Liquid Staked AVAX (SAVAX) Technical Analysis

Valdrin Tahiri

Valdrin Tahiri

Expert in price predictions

16 June 2024

BENQI Liquid Staked AVAX price prediction

Year Min Price Av Price Max Price
SAVAX traders use a wide range of trading signals and technical indicators to predict a price's trajectory. While not all methods are necessary to accurately forecast the direction of the market, some key indicators do hold more weight. Identifying BENQI Liquid Staked AVAX support and resistance levels gives traders an insight into the market's supply and demand while helping to determine reversals in trends.

In addition, chart patterns are also widely used by traders to form trend lines which help in predicting the next candlestick move.

Various indicators such as the RSI, Moving Averages and the MACD can be used to determine the direction of the long-term trend and attempt to predict the future price movement.
The price action on the neutral side, the price fell below the $0.000000000000000000 horizontal resistance area after previously moving above it. Such deviations are considered neutral signs. Despite this dive, the SAVAX price remains %174.99 positive since the beginning of the year.

RSI

The RSI offers additional insight into the market’s momentum by measuring the size of BENQI Liquid Staked AVAX price moves to determine whether its overvalued or undervalued. Market traders use the RSI as a momentum indicator to identify overbought or oversold conditions and to decide whether to accumulate or sell an asset. Readings above 50 and an upward trend indicate that bulls still have an advantage, whereas readings below 50 suggest the opposite.

According to the RSI, In the 1 Week time frame, BENQI Liquid Staked AVAX is currently trending with the actual RSI reading at . The 50 line could provide if the indicator returns to it.

Moving averages

Moving averages are an important analytical tool that provides traders with a bigger picture of what is happening in the charts by calculating the BENQI Liquid Staked AVAX average closing price over a set period of time. The relationship between short- and long-term moving averages is crucial in determining the trend’s direction. When the short-term MA moves above the long-term one, it is a sign that the trend is gradually turning bullish.

In the weekly timeframe, BENQI Liquid Staked AVAX is in a neutral trend since the 50-x MA has crossed below the 200-x MA, and the price is trading above both.

Alternatively, the trend is neutral if the 50-day MA has crossed above the 200-day one, but the price is trading below them (and vice-versa).

MACD

Finally, the MACD uses a Simple Moving Average (SMA) and an Exponential Moving Average (EMA) to more accurately predict the trend. In similar fashion to simple MAs, the relationship between these two is helpful in determining the trend’s direction.

For all these indicators, the weekly time frame is used to determine the long-term trend, the daily time frame is used for the intermediate trend, while the six-hour one is used for the short-term trend.

According to the MACD, in the 1-Week timeframe, BENQI Liquid Staked AVAX is currently trending since the MACD signal line moved 50 periods ago, and the histogram has been for 50 periods.

Current BENQI Liquid Staked AVAX Price

BENQI Liquid Staked AVAX currently sits at a price of $34.52 (SAVAX/USD) with a live market capitalization of 231.3M. The 24-hour trading volume is 2.5M USD which is a - %0.56221 negative. With a circulating supply of 6.7M, BENQI Liquid Staked AVAX's price movement is currently negative.

BENQI Liquid Staked AVAX Fundamental Analysis

Fundamental analysis aims to assess the inherent value of an asset, while technical analysis involves examining statistical patterns in the price and volume of that asset. Both techniques are employed to analyze and predict potential developments in the future price of that asset.

In the case of SAVAX, the most straightforward way to perform fundamental analysis is to look at supply and demand dynamics. Additionally, it is possible to look at the market capitalization amount (231.3M) and the circulating supply (6.7M) to arrive at reasonable price assumptions for the future. On the demand side, it is possible to look at on-chain data relating to the number of active and new addresses and transaction count.

What drives the price of BENQI Liquid Staked AVAX?

There are a number of variables in the cryptocurrency market that can drive the price of BENQI Liquid Staked AVAX upwards or downwards. The major force behind BENQI Liquid Staked AVAX’s asset value is the market’s supply and demand. Whether the demand for more SAVAX increases or decreases depends greatly on growing adoption.

Furthermore, significant events such as protocol updates or hard forks may also play a significant role in BENQI Liquid Staked AVAX’s price.

Another prime factor to consider is whale activity. Large holders of BENQI Liquid Staked AVAX can greatly impact the price as one large sell order can drop the price significantly. In addition, never underestimate the power of large institutional adoption and political regulations on BENQI Liquid Staked AVAX’s value.

Summary

It’s important to note some price predictions may appear contradictory. There is no clear-cut method for determining the future value of any cryptocurrency. This is because many factors are involved in price prediction. It’s not uncommon for one announcement to greatly change the trajectory of a coin’s price at any given time. The entire market as a whole can affect one coin’s movement as well as any updates on the project’s technology. Always do your own research before investing in any cryptocurrency.

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