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BTC, AVAX and SOL Price Analysis for November 21

Price Predictions
Sun, 11/21/2021 - 14:13
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Denys Serhiichuk
Can the cryptocurrency market remain bullish next week?
BTC, AVAX and SOL Price Analysis for November 21
Cover image via www.tradingview.com

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.

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

Top coins by CoinMarketCap
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%.

BTC/USD chart by TradingView
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.

Related
SHIB Price Analysis for November 20

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%.

SOL/USD chart by TradingView
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.

AVAX/USD chart by TradingVie
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.

Related
BTC, ADA and BNB Price Analysis for November 19

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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About the author

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 denys.serhiichuk@u.today.