AVAX Technical Analysis: Double Bottom At $15 Launches New Uptrend

AVAX price shows a double Bottom formation at the $15 mark teasing a price jump to the $23.00 resistance level to give a bullish breakout. Key technical points: AVAX prices have jumped by 4.04% in the last 24 hours The Trisection shows a double bottom Pattern formation at the $15 mark The 24-hour trading volume of Avalanche is $639 Million, indicating a rise of41%. Past Performance of AVAX The bullish failure to surpass the $22 mark led to a retracement at the $15 mark within a week to retest the breakout of the following channel Patil. The Lower price rejection and the morning Star pattern propel the AVAX market price, leading to a double bottom pattern formation. Hence the traders can expect the bullish reversal to reach the neckline at the $22 mark. Source- Tradingview AVAX Technical Analysis The 17% jump in the last four days increases the likelihood of a prolonged uptrend in the AVAX prices. Moreover, we can see an increase in the intraday trading volume trend supporting the bullish reversal. Despite the following channel pattern, the MACD indicator showcases a bullish trend in the fast and slow lines. Hence the Indicator showcases A solid underlying bullish sentiment ready to take over the trend control. The RSI indicator shows the slopes of passing the 14-day Average line with a rounding Reversal in the nearly oversold zone. Moreover, the bullish divergence in the RSI indicator increases the possibility of a bullish tre...