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Affected by the overall weakness in the altcoin market, Avalanche (AVAX) has broken below the key psychological level of $10 and is currently trading near $9.5. Despite bearish signals on the daily chart, including a break below the Ichimoku Cloud, AVAX is attempting a short-term bounce within an uptrend channel. Buyers are holding support levels, and the price may test the resistance area of $9.7. A break above $10.30 could signal a stronger rally, while a failed breakout may push the price toward the consolidation zone of $8-10.