Original U.Today article

BTC, SOL and AVAX Price Analysis for June 7

Which coins can rise while the market is in correction mode?

Price Analysis

Tue, 7/06/2022 - 16:40

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Bulls could not hold the growth as most of the coins are in the red zone once again. Cardano (ADA) is the only exception, rising by 3% over the last 24 hours.

BTC/USD

Bitcoin (BTC) has come back below the $30,000 mark, losing 4.59% over the last day.

On the daily chart, the price has returned to the middle of the wide channel where it has been located since the beginning of May. At the moment, neither bulls nor bears have accumulated enough energy for sharp growth.

Sun, 06/05/2022 - 18:30

BTC, ADA and BNB Price Analysis for June 5

In this regard, there is a high chance of seeing sideways trading between $29,000 and $31,000 until mid-June.

Bitcoin is trading at $29,909 at press time.

SOL/USD

Solana (SOL) has underperformed Bitcoin (BTC), dropping by 7.62%.

Solana (SOL) is trading below its crucial level at $40 which means that a further drop is likelier than a comeback. Respectively, if buyers cannot seize the initiative and push the price back above the mentioned mark, there is a possibility of seeing the cryptocurrency testing the $35 zone soon.

SOL is trading at $39.15 at press time.

AVAX/USD

Avalanche (AVAX) is the biggest loser from the list today, going down by 8.13%.

Despite the drop, AVAX is looking better than Solana (SOL) as the price is not so close to the support zone. However, the volume has risen, which means that bears can maintain their pressure. If that happens and the daily candle fixes near the $20 mark, one can expect the fall to the $15-$17 zone shortly.

AVAX is trading at $24.24 at press time.

#Bitcoin Price Prediction #Solana Price Prediction #AVAX price prediction

About the author

Denys Serhiichuk

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.