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BTC, SOL, AVAX and MATIC Price Analysis for July 27

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Wed, 27/07/2022 - 16:03
BTC, SOL, AVAX and MATIC Price Analysis for July 27
Cover image via www.tradingview.com

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The cryptocurrency market is recovering after a correction, bringing all of the top 10 coins back to the green zone.

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Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has bounced off the $21,000 mark, rising by 2.78%.

BTC/USD chart by TradingView

Bitcoin (BTC) is trading sideways between the support level at $17,592 and the resistance at $25,401. The low volume confirms that none of the sides has accumulated enough power to seize the initiative. However, if the slight rise continues to the $23,000 zone, a midterm bull run might begin.

Bitcoin is trading at $21,490 at press time.

SOL/USD

Solana (SOL) has gained more than Bitcoin (BTC) with a rise of 5% over the last day.

SOL/USD chart by TradingView

Despite the rise, Solana (SOL) is still trading below the $40 mark on the daily chart. Thus, the comeback below $35 may be a prerequisite for a decline to the $30 area shortly. Such a scenario is relevant until mid-August.

SOL is trading at $37.16 at press time.

AVAX/USD

Avalanche (AVAX) is no exception to the rule, going up by 5.65% since yesterday.

AVAX/USD chart by TradingView

Avalanche (AVAX) is about to return to the bullish zone if the daily candle closes above the $21.35 mark. The only obstacle is the low buying volume, which means that bulls might not have accumulated enough strength for a continued upward move.

AVAX is trading at $21.20 at press time.

MATIC/USD

MATIC is the biggest gainer today as the price has rocketed by almost 10%.

MATIC/USD chart by TradingView

MATIC is again trading above the $0.80 mark, which means that bulls are not going to give up so easily. If they can hold the initiative until the end of the day, the rise might lead to the test of $0.85 within the next few days.

MATIC is trading at $0.8058 at press time.

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