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BTC, TRX, MATIC and AVAX Price Analysis for July 6

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Wed, 6/07/2022 - 16:03
BTC, TRX, MATIC and AVAX Price Analysis for July 6
Cover image via www.tradingview.com

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After a slight correction yesterday, all of the top 10 coins have recovered their lost positions.

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Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has gone up by 3.52% over the last 24 hours.

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

Despite today's growth, Bitcoin (BTC) may not have accumulated enough power for continued growth, as the volume has reduced. From another point of view, the main cryptocurrency remains bullish until its price is above the vital $20,000 mark. If the situation does not change by the end of the day, one can expect a test of the $21,000 zone shortly.

Bitcoin is trading at $20,211 at press time.

TRX/USD

TRX has grown the least today, rising by 0.80% over the last day.

TRX/USD chart by Trading View
TRX/USD chart by Trading View

TRX is looking much weaker than most of the other coins as the altcoin could not rise after yesterday's bullish candle. If buyers lose $0.067, there is a high possbility to see a further decline to the $0.065 zone by mid-July.

TRX is trading at $0.06731 at press time.

MATIC/USD

MATIC has followed the rise of Bitcoin (BTC), going up by 4.20%.

MATIC/USD chart by TradingView
MATIC/USD chart by TradingView

MATIC is trading in the middle of the wide channel between the support at $0.418 and the resistance at $0.631. The volume has increased, which means that the coin is gaining energy for a further sharp move. Until the price is above $0.50, one can expect more upward move rather than a fall.

MATIC is trading at $0.5179 at press time.

AVAX/USD

Avalanche (AVAX) is the biggest gainer today, rocketing by almost 9%.

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

From the mid-term point of view, AVAX is trading sideways, which is confirmed by a relatively low volume. At the moment, one should pay attention to the crucial $20 mark, the breakout of which may lead to the test of the resistance level at $21.35. However, if a fall below $16 occurs, the growth scenario might be canceled.

AVAX is trading at $18.36 at press time.

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