Technical analysis by petermichalides about Symbol AVAX: Buy recommendation (7/8/2025)

AVAX has formed a clean double-bottom pattern on the weekly chart, signalling potential reversal after an extended downtrend. Price is now holding above support and showing signs of early bullish structure, with a higher low forming and compression tightening.Setup Thesis:A breakout from this base structure could trigger a mid-term rally toward the $29–30 zone, which aligns with prior structure resistance. This setup targets continuation if buyers defend the current level and break the neckline convincingly.Trade Plan:Entry: Around $18.00–18.20Stop Loss: Below $14.90 (beneath the recent low)Target: $29.00–30.00Structure: Double-bottom with early signs of trend reversalTimeframe: Mid- to long-term swing (weekly confirmation needed)Key Notes:This is a higher-timeframe setup. Patience is key — let the candle close strong and look for follow-through. A break and hold above $21 would further validate the bullish shift.Clean structure, defined invalidation, asymmetric reward.