AVAX Price Prediction Is Back in the Spotlight as BlockDAG Prepares to Launch

AVAX is back in the spotlight as traders revisit old highs and fresh chart patterns, with the AVAX price prediction showing signs of a possible move.

AVAX is back in the spotlight as traders revisit old highs and fresh chart patterns, with the AVAX price prediction showing signs of a possible move. Meanwhile, Binance just completed a massive BNB token burn, pulling over $900 million worth of BNB out of circulation—something that could tighten supply in the long run.

Then there’s BlockDAG, the quiet climber that’s now front and center. After jumping 2,380% during presale, it still holds a potential 3,932% return if the $1 projection plays out. So why are analysts so confident? A lot of it comes down to the soaring demand for the BDAG coins and miners, which are clear signs of growing confidence in the project’s real-world potential as a leading layer 1 blockchain.

AVAX Price Prediction Points to Potential Breakout

The AVAX price prediction is drawing renewed attention as technical indicators align with key market behavior. After reaching its all-time high of $146 in 2021, Avalanche spent much of 2022 and 2023 in a consolidation range.

Currently, the price is testing a major support level while forming a descending triangle—a structure often linked to upward breakouts. The relative strength index (RSI-14) also suggests a possible reversal from oversold territory.

Analysts tracking AVAX price prediction now point to the $60 resistance level as a potential target, should the token break out of the descending triangle in the coming weeks. Price action will remain closely tied to the unfolding of these technical patterns.

BNB Token Burn Removes $916M in Tokens as Supply Target Nears

Binance Chain has completed its 31st BNB token burn, removing 1.57 million BNB—valued at approximately $916 million—from circulation. This regular reduction, driven by the BEP95 proposal, aims to gradually cut the total supply of BNB to 100 million tokens.

The recent burn was executed on July 4, with the tokens pulled from Binance Chain’s treasury. These coins were used to fund community initiatives and support the development of the Binance Smart Chain ecosystem over the past few years.

With BNB now trading below key exponential moving averages and RSI indicators showing mild bearishness, price recovery may be limited in the short term. However, the impact of the recent BNB token burn could support long-term value if market demand strengthens at higher price levels.

Traders will be monitoring for a potential breakout of the 200-week moving average, which could unlock further gains. Key resistance is anticipated around $600, while derivatives data from BlockMind indicate mixed sentiment across futures markets.

Analysts Are Calling $1 & Miners Are Plugging In. What’s Fueling BlockDAG?

A lot of crypto price predictions are ambitious, but some are on another level. Take BlockDAG, for example. It started presale at $0.001 for Batch 1 back in December 2022. By Batch 27, the price reached $0.0248.

To put that scope of the move, it’s a 2,380% increase. In total, over 19.2 billion BDAG were sold for $215 million. But even with those stats, the true scope of BlockDAG’s climb is mind-boggling.

See, analysts have an astounding $1 price target on BlockDAG this year. Now, that would be a huge gain from Batch 27’s price. But consider this: from today’s price, a $1 target would generate a return of roughly 3,932%.

The demand for BlockDAG’s X series miners has become nearly as immense as the rush for its coins. Over 16,900 mining units have been sold, which brings in nearly $6.9 million in revenue.

Devices like the X10, X30, and X100 have seen great interest from users who are setting up BlockDAG nodes.

Unlike app-based mining alone, these hardware setups denote deeper engagement and a burgeoning belief in the project’s long-term value. The focus on energy efficiency and ease of use in these miners further enhances their appeal, aiding BlockDAG in gaining early traction in both accessibility and infrastructure.

What gives the $1 forecast added weight is the tech being delivered behind the scenes. BlockDAG has launched a fully working testnet. It also has no-code tools for rapid dApp development, and the mainnet launch is now in the planning stages.

The project’s economic model is based on a hybrid PoS/PoW consensus mechanism, which aims to combine the advantages of both approaches. It’s also planning to list on several exchanges.

Its roadmap includes staking derivatives,