Avalanche (AVAX) is starting to flash signs of a potential trend reversal as a clear double bottom pattern forms on the weekly chart. With price action building strength, bulls now have their sights set on the next key Fibonacci resistance zone.
Double Bottom Strengthens: Can Fibonacci Levels Hold?
In a recent analysis of the weekly chart posted on X, The Boss, a market analyst, highlighted that Avalanche is currently establishing a solid technical foundation. He noted the emergence of a clear double bottom formation, often considered a reliable reversal signal when confirmed.
According to The Boss, if this bullish pattern continues to play out, traders should keep an eye on the resistance zones marked by yellow lines, which are based on Fibonacci retracement levels.
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!