Avalanche (AVAXAlthough ) rose 0.5% to $31 by May 23, AVAX prices remain trapped in a range that looks like a bear pennant structure.

Pennants for bears are bearish continuation patterns, i.e., they resolve after the price breaks out of them to the downside and then—as a rule of technical analysis—falls by as much as the height of the previous downtrend, also called “flagpole.”