Avalanche (AVAX) has been consistently making new all-time highs since November 19 and shows no signs of weakening yet.

AVAX has been rising at a brisk pace since September 12th. The rise went completely parabolic after November 16th, and in a five-day period it rallied 77%. This resulted in a new all-time high of $147 on Nov.

While initially the price created a long upper wick (red symbol), which is considered a sign of selling pressure, AVAX has regained its position and is moving up once again.

The nearest resistance is at $154. This is the external Fib retracement level of 3.61 when measuring the most recent drop (white). Alternatively, AVAX can rally to the 4,618 Fib level at $182.

AVAX/USDT Daily Chart | Source: TradingView

Has AVAX reached the top yet?

Technical indicators have not shown any weakness yet.

The MACD, created by the short-term and long-term moving averages (MAs), is in the positive zone and is increasing. This means that the short-term MA is moving at a faster rate than the long-term MA.

The RSI, which is a momentum indicator, is rising and is above 70. Although this suggests it is overbought, the bulls are still in control. Furthermore, the sharpest parts of an upward move usually occur when the RSI is in the overbought zone.

More importantly, there was no bearish divergence, a signal typically associated with tops.

AVAX/USDT Daily Chart | Source: TradingView

Similarly, while the shorter-term six-hour chart could develop double tops, which is a bearish pattern, there is no bearish divergence in either the MACD or the RSI.

AVAX/USDT 6-hour chart | Source: TradingView

AVAX / BTC

Trader @AltcoinSherpa outlined the AVAX chart, indicating that the pair could move to an all-time high of ₿0.0018.

Since the tweet, AVAX has broken above the resistance area and hit a new all-time high.

Furthermore, it has moved above the ₿0.00236 resistance area, which is the 1.61 external Fib retracement resistance. The next resistance is found at ₿0.0033, the external Fib retracement level of 3.61.

Similar to the USD pair, there is no weakness in the technical indicators. Therefore, AVAX is likely to continue rising towards the 3.61 Fib resistance level.

AVAX/BTC Daily Chart | Source: TradingView