Avantis (AVNT), the new Base-specific token, is only a week into trading and already testing the nerves of investors. After a rapid climb to $1.54 on September 15, the token has pulled back 15.6% in the past 24 hours, now holding near $1.13.
The volatility comes as exchange inflows suggest heavy selling pressure, likely linked to the 12.5% airdrop that unlocked at launch on September 9. On-chain data also shows one group is stepping in to absorb tokens, setting up a tug-of-war between early sellers and so-called “mega whales.”
Buyers and Sellers in a Tug-of-War, but RSI Shows Weakening Pressure
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The past day saw exchange balances jump by 46.5 million AVNT, pushing the total to 105.61 million AVNT (almost $119 million at $1.13). That 78.6% rise points to heavy selling, supposedly from airdrop recipients moving tokens onto exchanges to take profits.
On the other side, total buying pressure — including the top 100 mega wallets, standard whales, and public figure wallets — absorbed almost the same amount.
- Top 100 wallets: added 49.7 million AVNT (+5.3%), taking their stash to 980.8 million AVNT.
- Standard whales: added 13,700 AVNT (+1.3%).
- Public figure wallets: added 126,800 AVNT (+7.1%).
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Together, these groups accumulated around 49.9 million AVNT ($56.4 million). In contrast, smart money wallets cut their exposure by 316,000 AVNT ( $0.36 million), showing less conviction in a near-term rebound.
This clash has shaped the 1-hour chart. The AVNT price first corrected after a bearish RSI divergence, where price made higher highs but the RSI (Relative Strength Index, which measures momentum by comparing gains and losses) made lower highs. Normally, that signals weakening trend strength, and indeed AVNT dipped.
But thanks to whale absorption, the correction stayed contained — the token held in range instead of collapsing.
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Now, a new hidden bullish RSI divergence has appeared: price is forming higher lows while RSI is making lower lows. This setup often signals that selling pressure is weakening, which fits with the picture of airdrop sellers exhausting while whales keep buying.
The net effect: even though selling still outweighs buying on paper ( $119 million vs. $56 million), the RSI hints that momentum may already be shifting, giving whales a chance to turn the tide.
Zooming Out: Bulls Still in Control, but $1.25 Is the AVNT Price Decider
Looking at the 4-hour chart helps put AVNT’s brief history in perspective. Bulls are still in control of the broader uptrend despite the 15% drop, but their grip has weakened. The bull-bear power indicator, which shows whether buyers or sellers dominate momentum, has started to flatten — showing that buyers are still holding on, but without the same force as before.
For now, the level to watch for the AVNT price is $1.25. A clean 4-hour close above this level would confirm renewed strength, potentially setting up a retest of $1.49 and higher extensions. If selling pressure eases, the top 100 addresses absorbing supply could push prices toward that breakout.
On the downside, a drop below $1.04 would invalidate the bullish setup and open the door to deeper corrections, especially if exchange inflows continue. If that support breaks, the AVNT price might even head towards $0.85 and $0.70, making the entire structure bearish.
For AVNT, the next 24 hours are critical. Whether the mega whales’ defense can outlast airdrop-driven selling will decide if the token stabilizes and reclaims $1.25 — or slides further.
Source: https://beincrypto.com/avantis-avnt-price-sheds-buyers-sellers-clash/