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BTC, LUNA and AVAX Price Analysis for May 4

Price Analysis
Wed, 05/04/2022 - 15:10
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Denys Serhiichuk
Which cryptocurrencies grow while the market keeps trading sideways?
BTC, LUNA and AVAX Price Analysis for May 4
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 cryptocurrency market keeps trading sideways with neither bullish nor bearish sharp moves.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is slightly going up, rising by 1.33% since yesterday.

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

However, today's growth has not affected the overall picture as the price remains trading in a wide range. If bulls can hold the $37,700 mark by the end of the day, the rise may continue to the zone around $40,000 by the end of the month.

Bitcoin is trading at $38,808 at press time.

LUNA/USD

LUNA is following the rise of Bitcoin (BTC), going up by 1.37% over the last 24 hours.

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

LUNA is also trading in the range between the support at $70.48 and the resistance at $100. But if bulls manage to come back to the zone around $90, the rise may continue. However, such a scenario is possible if the buying trading volume increases.

LUNA is trading at $84.26 at press time.

AVAX/USD

Avalanche (AVAX) has grown the least from the list today, rising by 0.72%.

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

Avalanche (AVAX) is looking much worse as the coin is trading near the support level against the increased trading volume. If today's candle fixes below the $60 mark, the downward move may continue to the support level at $52.95 within the next few days.

AVAX is trading at $60.91 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.