New product reached subcategory top 10, but ad spend is too high. When I cut budget, orders drop by 2/3. How do I reduce ads and raise price without crashing sales?

One last thought: you’re actually in a decent position — top 10, 2/3 organic orders. You just need to shift from “growth mode” to “profit mode.”
Don’t try to do both at once. First, stabilize organic rank by protecting your top converting keywords with ads. Once rank is solid, slowly reduce spend on those terms while keeping an eye on organic position. Then test small price increases.
It might take 4–6 weeks, but that’s better than crashing the listing and starting over.

A few more points:
Your ACOS is high partly because your CPC is high relative to your conversion rate. If you can’t improve conversion, you need to lower CPC.
How to lower CPC without losing rank:

• Use placement adjustments to focus on positions that actually convert (top of search usually, but check your data).
• Test phrase match instead of exact match for some terms — CPC is often lower, and you might still catch the same converting traffic.
• Run a “defensive” campaign on your top organic terms with lower bids just to keep competitors off your spot.

On raising price: The best time to raise price is during high‑demand periods (holidays, events) when customers are less price‑sensitive. If you have a BD or LD coming up, that’s your window.

You mentioned your boss wants you to raise price. But if your organic rank is shaky, raising price will hurt conversion even more.
A better order of operations:

1. Stabilize organic rank first. Don’t touch price until your listing can maintain sales without heavy ad support.
2. Test small price increases. Raise by $1, hold for 5–7 days. If conversion holds, raise another $1. If not, step back.
3. Use coupons instead of permanent price cuts. A coupon can boost conversion without lowering your base price or messing with your reference price.

Also, consider shifting some ad budget to external traffic (social, deals, influencer) to diversify. If you’re only relying on Amazon ads, you’re at their mercy.

Your ad structure looks over‑complicated. You have too many campaigns for a product that’s only doing $400/day in ad spend. That’s going to make it hard to manage.
What I’d simplify:

• Combine similar campaigns. Having separate ones for “exact long‑tail” and “manual exact” when they’re targeting the same terms just splits your budget and makes optimization harder.
• Focus on 2–3 high‑performing campaigns. Let the rest run on low budget or pause them.
• Check your search term reports — if you’re getting clicks on irrelevant terms, add negatives. That alone can improve ACOS.

Also, your CTR is low (0.19–0.25%). That’s usually either ad position or image/title issues. If your ads are on product pages, CTR will be low. Consider adding top‑of‑search placement adjustments to get more visibility.

You’re in a tough spot. Here’s my take:
Your ad‑to‑organic ratio is actually pretty good (1:2), but the fact that a 25% ad cut dropped orders by 2/3 means your organic rank is fragile — probably because your conversion rate isn’t high enough to keep you in top positions without ad support.
A few things to check:

• What’s your organic conversion rate? If it’s lower than ad conversion, you have a listing issue.
• Look at your placement reports. Are most ad clicks coming from top of search or product pages? Product page clicks convert poorly.
• Are your main keywords actually ranking? Use a third‑party tool to check organic position. Sometimes rank looks stable but is actually regional.

My suggestion:

• Don’t cut spend across the board. Instead, pull back on low‑performing campaigns (high CPC, low conversion) and concentrate budget on the 2–3 campaigns that actually drive profit.
• Consider adding SBV — in many categories, video ads have the best ROI.
• Run a BD or LD if you have one available. The traffic spike can help reset your conversion data and stabilize organic rank.

Once organic rank is solid, you can gradually reduce ad spend. But it’s a slow process — you can’t rush it.