Main navigation

BTC, SOL and AVAX Price Analysis for July 2

Sat, 07/02/2022 - 20:00
article image
Denys Serhiichuk
Can the cryptocurrency market show growth in July?
BTC, SOL and AVAX Price Analysis for July 2
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

The first weekend of July has begun with the continued bounceback of the cryptocurrency market.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) is almost unchanged since yesterday.

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

Bitcoin (BTC) has bounced off the $19,000 mark on the daily chart; however, the bears' pressure is still on. Thus, the buying trading volume is low, which means that buyers are not powerful enough for a trend change.

Related
BTC, ETH and XRP Price Analysis for June 30

In this case, if the rate cannot come back to the $20,000 mark within the next few days, there is a chance to see a further drop below $18,000.

Bitcoin is trading at $19,229 at press time.

SOL/USD

Solana (SOL) is the biggest gainer today, rising by 2.88% over the last 24 hours.

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

Despite the rise, Solana (SOL) is trading sideways in the middle of the channel between the support at $26.05 and the resistance at $37.37. The rate is above the mark of $30, which means that bulls are more powerful than bears locally. In addition, the price is closer to the upper level, confirming buyers' strength.

SOL is trading at $32.99 at press time.

AVAX/USD

Avalanche (AVAX) has also followed the rise of other coins, going up by 1.88%.

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

Even though Avalanche (AVAX) may not have accumulated enough power for continued growth, the price is far from the resistance level at $21.35. If the buyers cannot bring the rate back to the $18 mark, the fall may continue to the $15 zone until mid-July.

AVAX is trading at $16.32 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.