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BTC, AVAX and SOL Price Analysis for September 1

Thu, 09/01/2022 - 15:24
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Denys Serhiichuk
Which coins can withstand decline of Bitcoin (BTC)?
BTC, AVAX and SOL Price Analysis for September 1
Cover image via www.tradingview.com

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Bulls are giving no chance to bears as most of the coins have continued their fall.

Top coins by CoinMarketCap

BTC/USD

The price of Bitcoin (BTC) has declined by 1.71% over the last 24 hours.

BTC/USD chart by TradingView

Despite the price drop, the rate of Bitcoin (BTC) is located in the middle of the channel, which means that sideways trading is the more likely scenario. One can consider the rise only when the main crypto returns to the $20,400 mark.

Bitcoin is trading at $19,979 at press time.

AVAX/USD

Avalanche (AVAX) has followed the drop of Bitcoin (BTC), declining by 4%.

AVAX/USD chart by TradingView

AVAX is going down after a failed attempt to fix above the $20 mark. Currently, one needs to pay attention to how bulls can hold the support level at $18.05. If they can hold it, there is a chance to see the false breakout, followed by the local correction.

AVAX is trading at $18.90 at press time.

SOL/USD

Solana (SOL) is the biggest loser from the list today, going down by 5.20%.

SOL/USD chart by TradingView

Analyzing the daily chart, Solana (SOL) is trading similarly to AVAX, as the price is on the way to the $30.19 level. If nothing changes by the end of the day, the breakout of the important $30 mark can happen within the next few days.

SOL is trading at $31.07 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.