AVAX price is at a critical technical level as it approaches the $10 band again after a short-term rise. AVAX, which decreased by 4.33 percent in the last 24 hours, moved between the lowest level of 9.69 dollars and the highest level of 10.22 dollars in intraday transactions. CryptoAppsy According to data, AVAX is currently trading at $9.73. Although this price movement does not completely end the upward trend, it may cause the price to go through a critical test in the coming days.
Technical Analysis: RSI and Price Support Uptrend
According to the chart shared by technical analyst Shango, both the AVAX price and the RSI indicator escaped from the pressure and made a short-term breakout. The fact that the price moves above the descending resistance line and the RSI breaks out of the momentum squeeze indicates that the rise is on a more technically sound basis.
Experts draw particular attention to the fact that momentum supports the price in such movements. Because exits supported by volume are generally more permanent. It is stated that the first upward target for now is $ 10.80, followed by $ 11.25. However, if the price cannot hold at these levels, there is a possibility of falling back to the $ 9.50-9.70 band.
“The breakout in price and RSI is progressing together; the $10.80 and $11.25 levels stand out as the first targets for the rise.”
Manifold Sales Pressure in the Market
Although the technical outlook has turned positive, an important factor that poses a risk on the liquidity side in the AVAX market comes to the fore. The quantitative trading firm called Manifold has recently attracted attention with large amounts of AVAX sales on Bybit. The firm recently sold 85,000 AVAX for approximately $814,300 and the day before sold 22,000 AVAX for $208,800. It is stated that a total of AVAX sales of 154.55 million dollars were made in the last year.
These large selling volumes are making it difficult for AVAX, which is trending to recover, to rise. While creating a certain supply pressure in the market, the price has difficulty moving upwards.
Big Goals in Macro View
Examining the longer-term chart shows that AVAX has been squeezed below major resistance levels for nearly three years. Analyst Flippix states that the continuation of this squeeze for a long time increases the possibility of a strong upward movement in the future. On the macro scale, the first upward target stands out as $ 35, then $ 65 and finally the $ 140-146 band. However, these levels are not short-term goals; The current $9–10 level needs to form a strong base.
15 Dollar Target and Critical Levels in the Short Term
In the short term, before the $15 target, it will be decisive whether AVAX can rise above $10 and then remain at $10.80–11.25 levels. Analyst Blacksea emphasizes that the price must remain strong above the current range for the rise to continue. With the $10.80 and $11.25 levels being exceeded, the $12-15 band could potentially come to the fore. However, the bullish scenario will weaken if the price falls below $10 again and then below 9.50.
The immediate support for AVAX is $9.50–$9.70, while the main support is $9. The upward breakout levels that could trigger the rise stand out as $ 10.00, 10.80 and 11.25, respectively. In the medium term, $15 is shown as an important target. In a broader perspective, the $35, 65 and $140 levels stand out as macro resistance areas.
Critical Threshold: First Target $10.80
AVAX’s technical structure appears to have generally improved in recent weeks. Price and RSI are freeing from pressure, paving the way for a new rise. However, since sales from Manifold continue, the price must clearly exceed the determined resistances in order to confirm a permanent rise in the market.
While the price remaining in the $9-9.50 band ensures that the recovery continues, a return to $10 indicates that the short-term momentum may regain strength. Exceeding the $10.80 and $11.25 limits in a short time stands out as important developments that will accelerate the rise.
