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BTC, ETH, SOL and AVAX Price Analysis for November 23

Price Predictions
Tue, 11/23/2021 - 15:57
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Denys Serhiichuk
Have buyers accumulated enough power to keep the growth going?
BTC, ETH, SOL and AVAX Price Analysis for November 23
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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The market has started the new week with a neutral mood as some coins keep rising while others have already faced a correction.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday morning, buyers tried to restore the price of Bitcoin, but again they could not overcome the resistance of the two-hour EMA55. For two weeks, the pair has not been able to break above this moving average EMA55.

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

By the end of the day, the price retraced to the $55,287 level and renewed the monthly minimum around the $55,628 mark. A weak recovery of the pair to the area of ​​$57,000 was observed tonight (the volume of purchases was less than the average level).

Related
BTC, AVAX and SOL Price Analysis for November 21

During the day, one should expect a continuation of the decline below the support of 78.6% fibonacci. Bears can seek to retest the level of $53,400.

Bitcoin is trading at $57,280 at press time.

ETH/USD

By the end of the day yesterday, the bears pushed the Ethereum (ETH) price back to the level of $4,000. The daily low is set at $4,024.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Over the past night, with decreasing volumes, the pair recovered to the area of $4,100. Today the bearish pressure may intensify and the price might break through the psychological level of $4,000.

Related
BTC, ETH and XRP Price Analysis for November 20

In the near future, one can expect an update of the monthly minimum in the support area of $3,800.

SOL/USD

Solana (SOL) is located in the red zone, going down by 2.76% over the last day.

SOL/USD chart by Trading View
SOL/USD chart by Trading View

Solana (SOL) is trying to consolidate around the area of $220. The trading volume is low, which means that sideways trading remains the more likely scenario for the upcoming days. In this case, the altcoin may keep trading around $200.

SOL is trading at $216.73 at press time.

AVAX/USD

Avalanche (AVAX) is even more of a loser with a decline of almost 4%.

AVAX/USD chart by Trading View
AVAX/USD chart by Trading View

Despite the fall, Avalanche (AVAX) remains trading above the vital support line at $129.94, which means that the fall might be just a correction so bulls can gain more power for continued growth. If such a scenario comes true, there are high chances of seeing the test of the $140 zone soon.

AVAX is trading at $130.58 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.