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BTC, SOL and LUNA Price Analysis for April 22

Price Analysis
Fri, 04/22/2022 - 12:58
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Denys Serhiichuk
Which coins can overcome the current market drop?
BTC, SOL and LUNA Price Analysis for April 22
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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Bulls may have begun fixing their positions as all of the top 10 coins have turned to red again.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has failed to get to the $41,000 mark, going down by 3.39% since yesterday.

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

Bitcoin (BTC) is looking bearish as buyers could not return the rate to the $42,000 zone. Furthermore, the selling trading volume has increased, which confirms bulls' weakness.

Related
Bitcoin (BTC) Price Analysis for April 20

If they cannot seize the initiative and the decline continues, there is a high possibility to see a breakout of the $39,218 level on the first days of May.

Bitcoin is trading at $40,376 at press time.

SOL/USD

Solana (SOL) is the biggest loser from the list, going down by 5.66% over the last day.

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

Solana (SOL) is trading similar to Bitcoin (BTC) as it has also failed to keep the growth after the test of the $110 mark. If the daily candle fixes around $98, there is a chance to see the sharp decline below $90 within the nearest days. Such a scenario is relevant until the end of the current week.

SOL is trading at $101.91 at press time.

LUNA/USD

LUNA has fallen the least from the list today with a decline of 2.22%.

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

On the daily chart, the price of LUNA is coming back to the resistance at $100. This mark is crucial for bulls in terms of mid-term growth as its breakout may lead to the test of the next level at $118. However, if sellers continue their pressure and the rate comes back below $90, it may be a prerequisite for a further drop to the area of $80-$85.

LUNA is trading at $96.30 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.