Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Despite the oversold market, most of the coins have continued their drop.
Bitcoin (BTC) is the biggest loser today as the decline of the main crypto has accounted for 3.67%.
Bitcoin (BTC) has bounced off the $20,000 mark, which means that bulls are not going to give up so easy. In addition, the selling volume is declining, confirming bears’ weakness. If the daily candle remains above $21,000, there are chances to see the further correction to the $23,000 zone.
Bitcoin is trading at $21,302 at press time.
The rate of Solana (SOL) has gone down by only 0.55% since yesterday.
Solana (SOL) has not gone below the recently formed level at $26. At the moment, the rate is stuck in the narrow range between the support and the resistance at $32.32. All in all, a local rise is possible if buyers return the price to the vital $30 mark.
SOL is trading at $28.82 at press time.
Avalanche (AVAX) is no exception to the rule, falling by 2.21%.
AVAX has made a false breakout of the $14.58 mark against the high trading volume. Currently, traders should pay close attention to the $16 mark. If buyers can fix the rate above it, it might be a prerequsite for the test of the resistance at $17.30 shortly.
AVAX is trading at $15.71 at press time.
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at email@example.com.
Disclaimer: Any financial and market information given on U.Today is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.