- AVAX is holding key support and forming a potential double bottom structure.
- Confirmation comes with a breakout above the local high; next target: $41.80.
- Volume will be key—watch for a spike on breakout to confirm the bullish setup.
Avalanche (AVAX) might be cooking up something interesting. After weeks of chop and downward drift, it’s now holding tight near a crucial support—and there’s early chatter about a double bottom pattern starting to form. If this setup sticks, we could be looking at a move up toward the $41.80 mark.
Yeah, it’s still early—but some signs are starting to line up.
AVAX Bounces Off Support—Double Bottom in Play?
Right now, AVAX is hanging out inside a major high-timeframe demand zone. This same region has acted as a pivot point before—like, more than once. The recent price action? It’s hinting at a double bottom structure building out. That’s usually a pretty reliable bullish reversal pattern… if confirmed.
Zooming in, this setup also lines up nicely with the point of control (POC) from the visible range volume profile, plus it hugs the 0.618 Fibonacci retracement level. Basically, a lot of stuff is happening at the same spot, which gives it more weight.
But here’s the thing—the pattern isn’t valid until AVAX breaks above the neckline. That’s the local high between the two bottom touches. Until that pops, it’s just potential.
Targeting $41.80—But Breakout Comes First
If this really is a double bottom and the neckline gets taken out, it wouldn’t just trigger the reversal—it’d also give AVAX its first proper higher high in a while. That would officially flip the structure bullish on the higher timeframes.
From there, eyes go to $41.80. That level sits near the value area high and aligns with the golden pocket (0.618 Fib), which is often a magnet for price. But getting there hinges on one thing—volume.
So far, it’s been quiet. That’s kind of normal in early reversal stages. But what matters is the breakout. If AVAX clears the neckline and volume spikes—especially on the buy side—that’s the green light. It could add fuel to the rally and speed up the push to $41.80.
What to Watch Next
Here’s the TL;DR: if this double bottom plays out and AVAX clears that local high with conviction (and volume to back it), the bullish breakout scenario gets real. That opens up the path to $41.80 and maybe more, depending on how price reacts at resistance.
Until then, it’s all about waiting for confirmation. No breakout? No trade. But if it hits? Could be the start of a longer-term trend shift.
