Avalanche's AVAX Token Gears Up for Bullish Breakout

Avalanche's AVAX token has formed a potential double bottom pattern on its short-term chart, indicating weakening selling pressure and a possible bullish breakout.

The token rebounded after touching a low near $6.37, suggesting buyers remain active around current price levels, particularly in the support zone between $6.35 and $6.40.

Momentum indicators also support growing optimism, with analyst CryptoJack identifying a bullish divergence on the four-hour chart, where price continued printing lower lows while momentum created higher lows.

Despite short-term whale activity, institutional growth continues to strengthen Avalanche's long-term story, with rapidly expanding ecosystem growth and real-world asset adoption reaching $2.1 billion in tokenized assets, placing it among the world's five largest RWA blockchain networks.