Avalanche aims to gain a spot in top-10, makes a new ATH

Avalanche made a new all-time high at $146.22 on November 21, breaking all of its previous records. 

As recollected by TheCoinRise, Avalanche scored a $200 million funding round, breaking all the barriers and continuing the long-running streak of DeFi investments. 

Owing to the recent interest in the DeFi industry, Avalanche has gotten a lot of attention from value investors. Also, a number of partnerships have been struck. Recently, TheCoinRise’s audience witnessed the integration of AVAX staking and NFT on the Voyager Digital platform. 

The token has shown extremely bullish movement in recent days. As per data from CoinMarketCap, the token opened the market at $125.8 and reached a daily high of $147. The lowest price reached as of 6:39 PM GMT is $123.23. 

Avalanche price analysis on the daily chart

As covered by our journalist, the AVAX token entered the top-10 currencies in the market and tried to push Dogecoin out of the same. However, after a brief interval, the bulls were unable to keep up as Dogecoin regained its position. 

As per the daily chart below, the Avalanche token continues to build higher highs above the 50-day and 100-day Moving Averages if the prices turn bearish. These are levels of support for the long term.

On the other hand, the prices broke out from the upper end of the Bollinger Bands, continuing the uptrend.

Chart by tradingview

The RSI levels are currently in over bough region with a slightly positive gradient. This means that after a cool-off period, bulls will take Avalanche prices higher.

Moreover, the MACD indicator shows that the token will continue with new highs as the MACD line (blue) continue to accelerate above the signal (orange) line.

Chart by tradingview

The nearest resistance for the Avalanche price action is at $132.851, followed by $139.948 and $150. These levels are important for the price movement. Meanwhile, the nearest support levels are $115.519, followed by $105.284 and $98.187.

We can expect the Avalanche price of the token to attempt again to breach $150 and towards the $200 price levels.