- Solana’s bullish outlook is strong, even though prices have soared above a major resistance level.
- Avalanche’s bullish momentum slowed down, and it could see a small pullback.
Solana [SOL] The following are some examples of how to get started: Avalanche [AVAX] Over the last two days, we saw the charts take a different path. While the price of bitcoin continued to rise, the market as a whole lost some gains. The bullish trend for the second currency weakened.
Bitcoin [BTC] Altcoins’ performance was heavily influenced by the capital flow into ETFs. Altcoins were not forgotten because of the massive capital inflow into ETFs. Here are some tips to help traders navigate the coming volatility.
Avalanche might retest the key zone of demand, while Solana keeps up its upward trend
In the last two weeks, two previous bearish blocks on AVAX’s chart have become bullish break-out blocks. They are marked by white and blue boxes.
Fibonacci levels revealed that once $43,35 white box resistance was breached, a bullish market trend began.
Traders should be on the lookout for resistance levels in higher timeframes, such as $55.4 or $64.9. Recent weeks have seen the OBV, RSI and ROC trending upwards. This shows bullish dominance. The market is expected to make more gains after the pullback.
It is possible that the zones for $49 or $43 will be retested. This would offer a great opportunity to buy.
Avalanche’s bullish momentum was not halted by the Bitcoin drop. On the 12-hour graph, its RSI was at 82 which indicated strong bullish movement.
OBV also rose higher, signaling a new influx of buyers. Whales, on the other hand, have made a profit. AMBCrypto reported.
The 61.8% level of extension at $172.8 was flipped into support as we went to press. The $200 mark is the next The target as defined in A recent report.
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Open Interest: Assessing the decline
AVAX’s OI fell over the past 3 weeks. At the time of publication, it had fallen from $202 to $181 millions. Prices were also stagnant at $55. The token was expected to be a disappointment.
The Open Interest for Solana, on the other hand rose from $880 to $1.05 Billion as the price went up from $146. It was an indication that the short-term bias continued in favor of bulls.
Disclaimer: This information is not intended to be a comprehensive guide. financialThe writer is not providing any investment advice, trading or other type of financial guidance.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: ambcrypto.com