Main navigation

BTC, BNB, ADA, AVAX, SOL and LUNA Price Analysis for February 16

Price Analysis
Wed, 02/16/2022 - 16:04
article image
Denys Serhiichuk
Can the coins recover after today's slight decline?
BTC, BNB, ADA, AVAX, SOL and LUNA Price Analysis for February 16
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.

Read U.TODAY on
Google News

Bulls could not hold the initiative for long as most of the coins have returned to the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, buyers were able to continue weak growth, and tonight, the price of Bitcoin (BTC) came close to $45,000. The bears are holding back growth dynamics, not allowing the pair to recover to the February maximum.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

This afternoon, after a slight setback, the bulls can try to continue climbing to the resistance at $46,000.

Related
BTC, DOGE, and SHIB Price Analysis for February 14

If sales roll back above average soon, the decline could reach the two-hour EMA55.

Bitcoin is trading at $43,605 at press time.

BNB/USD

The rate of Binance Coin (BNB) has gone down by almost 1% over the last day.

​BNB/USD chart by TradingView
BNB/USD chart by TradingView

Binance Coin (BNB) has fixed above the vital mark at $400 on the daily chart. If the buying trading volume remains high and the rate does not go below the support level, there is a chance to see continued growth to the area around $450 soon.

BNB is trading at $426 at press time.

ADA/USD

Cardano (ADA) has lost more than BNB with a decline of 2.50%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Unlike BNB, Cardano (ADA) is neither bullish nor bearish as the rate is located in the middle of the channel between the support at $0.917 and the resistance at $1.209. In this case, one needs to pay close attention to which side is more powerful. If the price comes back to $1.20, there is a possibility to see a bullish trend reversal.

ADA is trading at $1.072 at press time.

AVAX/USD

Avalanche (AVAX) is the only gainer from the list today, rising by 4.85%.

AVAX/USD chart by TradingView
AVAX/USD chart by TradingView

Despite the growth, AVAX is still unable to fix above the level of $100 so far. In this regard, sideways trading in the range of $80-$90 is the more likely scenario for the upcoming days, so bulls could get energy for a continued price rise.

AVAX is trading at $92.64 at press time.

SOL/USD

Solana (SOL) is not an exception to the rule, going down by more than 3% since yesterday.

SOL/USD chart by TradingView
SOL/USD chart by TradingView

SOL is trading similarly to Cardano (ADA) as the coin remains trading in a wide range. Respectively, one should not expect any sharp moves soon.

Related
BTC, ETH, XRP, ADA and SOL Price Analysis for February 13

If the price can bounce back to the $99 mark, there is a chance to see a further slight rise within the nearest days.

SOL is trading at $99.22 at press time.

LUNA/USD

LUNA is following the decline of most of other coins, going down by 0.95%.

LUNA/USD chart by TradingView
LUNA/USD chart by TradingView

Despite the fall, the price is closely approaching the resistance level at $61. If the selling volume remains low, buyers might try to break and fix above it to confirm the mid-term bullish trend.

LUNA is trading at $55.72 at press time.

article image
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.