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Decentralized exchange GMX allegedly fell victim to a price manipulation exploit worth around $565,000 on the AVAX/USD pair.

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The price of GMX has taken a beating, trading at a 20% decline over the past 24 hours on worries of price manipulation of a certain trading pair.

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Today marks a bearish day for Avalanche price analysis as the price went all the way down to $16.79 from yesterday's closing price of $18.47. AVAX/USD is undergoing significant volatility today and is following the overall sentiment of the market.

Decentralized exchange GMX might have suffered price manipulation on the AVAX/USD pair. Estimates losses from the incident exceed $500,000, per reports.

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History of AVAX To compete with Ethereum, the cryptocurrency and blockchain platform Avalanche was created.

Crypto enthusiasts are hunters for profits, constantly searching for opportunities that guarantee profits regardless of the market condition. The cryptocurrency market is a bear rally, and although it leaves fewer chances for profit, there are still quite some opportunities.

The Avalanche price prediction reveals that AVAX may head to the downside as the dip is likely to get worse.

Avalanche price analysis reveals that the market is in a bearish trend as prices constantly fall. There is some support for AVAX prices around $17.72 but it looks like it won't be enough to stop the fall.

It's been an exceptionally bearish week as most of the cryptocurrencies are trading in the red. Bitcoin, the world's first cryptocurrency, has lost its $20,000 level and is trading around the $19,000 level.  The second largest cryptocurrency by market cap, Ethereum, has also lost its key trading level and has dropped to around $1,400.

The Kohlberg Kravis Roberts & Co, known as KKR Inc, is an American-based global investment company, KKR & Co has long been managing multiple assets and is now eyeing crypto assets. The class of assets managed by this firm cut across real estate, energy infrastructure, private equity, credit, and Hedge funds.

Bitcoin.com has announced that its multichain self-custodial wallet now supports Avalanche (AVAX).

Ethereum's transition to Proof-of-Stake appears to have become a "sell the news" event, as tokens like Solana and Avalanche edge closer to a steep correction. 

Avalanche price remains negatively biased today. The price tested the multi-month lows around $18.50 following a broader crypto market meltdown.

AVAX had time to recoup from June to July and then in August, the token slipped and formed a bullish cup and handle pattern. AVAX intraday trading volume indicates a 38.7% plunge Avalanche sellers successfully reclaimes the 20-day EMA slope Trading volume skyrockets to 487 million Now, the pattern which can be spotted at the market bottom will serve as a feasible launchpad for the crypto's recovery but in order to complete the pattern, the coin price should barrel past the $30.6 key resistance.

AVAX under sellers' control Avalanche (AVAXUSD) Price Analysis – September 15 Currently, the key resistance level to watch out for lies at $21, $29 and

The CEO of Avalanche [AVAX] Labs, Emin Gün Sirer, made an important announcement on 14 September. KKR, a leading global investment firm, joined hands with Avalanche with $417 billion in assets under management (AUM).

Securitize Capital, a virtual currency business, plans to tokenize $491B wealth management company KKR's Health Care Strategic Growth Fund II inside the Avalanche public ledger.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. The previous trading day saw heavy losses across the board for both equities and crypto.

A V-top reversal from $30.5 resistance tumbled the Avalanche coin price to 0.786 Fibonacci retracement level at $18.2. The coin buyers obtained suitable floating at this level and triggered a 22% rally to $21.88.

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The investment firm hopes to use the $4 billion tokenized fund to attract more investors.