Avalanche nears key breakdown level that could sink AVAX price by another 65% By Cointelegraph

Avalanche (AVAX) gained 0.5% to achieve over $31 on Could 23 however AVAX worth stays trapped inside a buying and selling vary that seems like a “bear pennant” construction.

Bear pennants are bearish continuation patterns, i.e., they resolve after the worth breaks out of them to the draw back after which—as a rule of technical evaluation—falls by as a lot as the peak of the earlier downtrend, additionally referred to as “flagpole.”