The bullish outbreak demolishes multiple resistance levels and aims to create a new all-time high as BitGo adds support for AVAX.

AVAX is built by keeping the main focus to help the financial market. It has designed specific custom rule sets to define how the assets are traded. It can handle multiple assets such as equities, bonds, digital real estate, etc.

BitGo, a crypto custody company will be able to support AVAX which is Avalanche's native currency. The announcement comes shortly after Bank of America analysts said Avalanche could be a feasible alternative for Ethereum in decentralized financing (DeFi) as well as tokens that are not fungible (NFTs) as well as gaming. 

It also opens the possibility for BitGo clients, such as the exchanges Bitstamp and Bitbuy and Bitbuy, to provide AVAX to their customers.

Read more to know more about the technical analysis of the AVAX token.
<h2>Past Performance of AVAX</h2>
AVAX coin price shows an <a href="https://www.cryptoknowmics.com/news/avax-technical-analysis-poised-for-a-bullish-phase-good-time-of-hodl/">amazing</a> growth of 40% in the last five days from the $80 level to the $110 mark. Moreover, the increasing demand for the token hints at a bull run to the $135 mark. 

The rise in the intraday trading volume of 40% shows the multiple bullish engulfing candles are more than capable of rising above the $110 mark. 

<img src="https://s3.tradingview.com/snapshots/q/QLxHYASO.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/QLxHYASO/">AVAX/USD Daily Chart</a>
<h2>AVAX Technical Analysis</h2>
With the AVAX price rising higher towards the $110 resistance mark, a breakout entry opportunity awaits for bullish traders. The AVAX coin price can show a 20% upon breakout to the $135 mark.

The pivot points and the price action hints at opposition near $120 and $135 whereas, the support levels, in case of a bearish reversal, are at $100 and $92 marks.

The 50, 100, 200 days EMA maintains a bullish alignment in the daily with the 100-day EMA recently pushing the falling prices higher. Moreover, the coin price stabilizes over the 50-day EMA which now provides dynamic support. 

The RSI indicator at 56% shows a sudden spike in the slope from the 39% in the daily chart. Thus, resulting in a breakout above the central line as the slope enters the nearly overbought zone. Furthermore, the MACD indicator in the daily chart shows a rise in the fast line resulting in a crossover above the seller's line. Thus, giving a bullish crossover.

In conclusion, the price action and technical indicators maintain a bullish perspective for the AVAX coin and hint at a $110 breakout. 
<h2>Upcoming Trend</h2>
Currently, the AVAX coin price is slightly below the $110 mark, however, traders need to wait till the price gives closing above the resistance in the 4-hour chart.

Upon breakout, the $120 and $135 mark notable resistance levels which can act as targets for bullish traders. More optimistic traders can hold their positions with trailing stop loss and hope for a new all-time high near the $150 mark.

AVAX Technical Analysis: BitGo Support Drives AVAX Higher, Aims to Touch $150

The bullish outbreak demolishes multiple resistance levels and aims to create a new all-time high as BitGo adds support for AVAX.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AVAX Technical Analysis: BitGo Support Drives AVAX Higher, Aims to Touch $150

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