Avalanche Price Breaks Bull Market Support Band, Trading Near $11.21

Avalanche's price surge has taken it past its weekly bull market support band, currently trading near $11.21 after rising over 54% in September.

The token broke out from a key resistance zone of $10.53, which had previously capped every recovery attempt since June.

This move was sparked by Ava Labs' confirmation that the NYSE tested its technology for a year, signaling institutional interest and adoption for the AVAX token and broader DeFi ecosystem.

However, analyst Michaël van de Poppe is trimming his position from $6.50, warning that AVAX may be overstretched in the short term.