Amid the recent resurgence of altcoins, particularly led by Ethereum (ETH), the price of My Neighbor Alice's token, ALICE, has demonstrated a significant uptrend, surging by over 83% in the last three weeks to hit a new high not seen in months.

Recent data from cryptocurrency experts indicates that ALICE's value against the US dollar experienced a notable increase of more than 50% on Monday, stabilizing around $2.3 during the early trading hours of Tuesday in Asia.

Monday's remarkable spike in ALICE's value was primarily fueled by a surge in demand from traders. Presently, the average daily trading volume of ALICE has surpassed twice its market capitalization.

More precisely, the daily average trading volume for ALICE sits at approximately $514 million, while its market capitalization stands at around $213 million.

As ALICE's price hinted at an impending record high, attracting increased attention from swing traders, insider activity portrayed a different narrative.

In-depth analysis of on-chain data by market intelligence firm Lookonchain unveiled that multiple vesting wallets associated with My Neighbor Alice deposited over 2 million ALICE tokens, equating to over $5.4 million, onto Binance's crypto platforms.

The acceleration in market selling from ALICE insiders does not inherently indicate a pessimistic outlook, but traders are advised to vigilantly observe the evolving price movements.

Following an impressive surge on Monday, ALICE's value relative to the US dollar is presently interacting around a crucial resistance and support threshold of approximately $2.3. This small-cap altcoin observed a substantial spike in its daily Relative Strength Index (RSI) to 70, suggesting a bullish momentum.

If buyers of ALICE manage to overcome the existing resistance barrier, the altcoin is likely to ascend towards $3.35, coinciding with the 1.618 weekly Fibonacci Extension level.