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The new week has started with the fall of the cryptocurrency market as the majority of the coins are in the red zone.
BTC/USD
The price of Bitcoin (BTC) has declined by 2.55% over the last 24 hours.
Bitcoin (BTC) has continued the fall after yesterday's bullish candle and breakout of the local support level at $20,895. The selling volume remains low; however, if bears keep their pressure, there is a chance to see a further drop below the vital zone of $20,000. Such a scenario is relevant until the end of the week.
Bitcoin is trading at $20,395 at press time.
SOL/USD
Solana (SOL) is the biggest loser today as it has decreased by 4.72%.
Despite today's drop, Solana (SOL) is trading in the middle of the wide channel between the support level at $26.05 and the resistance at $44.87. At the moment, bears seem to be more powerful than bulls as the price could not fix above the $40 mark. If SOL loses another level at $30, one can expect the test of $20 soon.
SOL is trading at $34.87 at press time.
AVAX/USD
Avalanche (AVAX) has followed the decline of the whole market, going down by 4.34%.
Avalanche (AVAX) is looking similar to SOL as the sideways trading remains the more likely scenario for the upcoming days. However, if the daily candle fixes near the $18 mark or below it, bears have chances to seize the initiative.
AVAX is trading at $18.18 at press time.
Gamza Khanzadaev
Yuri Molchan
Dan Burgin
Vladislav Sopov