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BTC, AVAX and SOL Price Analysis for November 21

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Sun, 21/11/2021 - 14:13
BTC, AVAX and SOL Price Analysis for November 21
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Traders may have begun fixing their positions as the majority of the top 10 coins are in the red zone.

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Top coins by CoinMarketCap

BTC/USD

Despite today's growth, the passing week has been bearish for Bitcoin (BTC) as its rate has declined by 8.89%.

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BTC/USD chart by TradingView

Bitcoin (BTC) is trading sideways after a bounceback from the support at $59,560. The trading volume is low, which means that one should not expect any sharp moves as the main crypto has not accumulated enough power for that just yet.

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However, if bears do not start pushing the rate, there are is a chance of testing the resistance at around $62,290 next week.

Bitcoin is trading at $58,992 at press time.

SOL/USD

Solana (SOL) is the biggest loser today as its rate has gone down by 1.21%.

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SOL/USD chart by TradingView

Solana (SOL) is looking more bearish than Bitcoin (BTC) and other coins as it could not break the resistance at $217 and fix above it. In this case, the more likely price action is the test of the formed support at $186 next week.

SOL is trading at $211 at press time.

AVAX/USD

Avalanche (AVAX) is the top gainer today, rocketing by 20% over the last 24 hours.

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AVAX/USD chart by TradingView

Avalanche (AVAX) has joined the top 10 list coins and is setting the new peak at $143. The long-term trend remains bullish; however, there might be a correction so that bulls can gain more strength for a further rise.

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Respectively, the rate may decline to the nearest support at $123 next week.

AVAX is trading at $142 at press time.

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