- AVAX coin prices hold strong at the $10 psychological support.
- A falling channel pattern is observed in the 4-hour chart, indicating a bearish phase.
- The coin has lost 37% in two months, dropping from $15.99 to $10.
The $10 demand belt is under significant selling pressure, with bearish indicators in both 40-hour and weekly charts.
A descending triangle is evident in the weekly chart.
The $10 zone has historically been a strong support, helping AVAX reach a height of $151 since 2021.
A 46% drop in the last three months signals potential bearish activity.
If prices fall below $10, they could potentially reach as low as $6.20.
A close above $11.19 could initiate a recovery phase and channel breakout.