Avalanche price eyes 30% jump in June with AVAX’s classic bullish reversal pattern By Cointelegraph

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Avalanche price eyes 30% jump in June with AVAX’s classic bullish reversal pattern

Avalanche’s AVAX token shows signs of continuing its ongoing rebound move as it paints a classic bullish reversal pattern.

Dubbed a “double bottom,” the pattern appears when the price establishes a support level, rebounds, corrects after finding a resistance level, pulls back toward the previous support and bounces back toward the resistance level to pursue a breakout.

four-hour price chart with “double bottom” setup. Source: TradingView
AVAX/USD daily price chart. Source: TradingView