Avalanche (AVAX) slides 4% near $10, faces selling pressure from Manifold

The cryptocurrency Avalanche (AVAX) fell 4.33% over the past 24 hours, trading around $9.73 after a brief rally that saw the price move between $9.69 and $10.22. Analysts note that the level near $10 is now a critical support zone; a break below $9.50‑$9.70 could trigger further declines.

Technical charts show a concurrent breakout in price and the RSI indicator as AVAX moved above a descending resistance line, suggesting renewed bullish momentum. The immediate upside targets are $10.80 and $11.25, with a longer‑term aim of $15 if the coin can hold above $10. Persistent selling pressure comes from the quantitative trading firm Manifold, which recently sold 85,000 AVAX (about $814,300) and 22,000 AVAX (about $208,800) on Bybit, adding to roughly $154 million of AVAX sold over the past year. On the macro chart, AVAX remains in a multi‑year compression pattern, with larger resistance zones projected near $35, $65 and $140‑$146.