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SOL and ETC Price Analysis for November 20

Sun, 11/20/2022 - 21:00
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Denys Serhiichuk
Which altcoins can withstand market fall?
SOL and ETC Price Analysis for November 20
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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The last day of the week has turned out to be bearish for the cryptocurrency market.

Top 10 coins by CoinMarketCap

ETC/USD

Ethereum Classic (ETC) has followed the drop of most of the other coins, declining by 1.38%.

ETC/USD chart by TradingView

Ethereum Classic (ETC) is looking bearish on the daily chart as the price is returning to the recently formed support level at $18.82. If the bar closes around it or even below, the drop may lead to a test of the $17.72 mark within the next few days.

Ethereum Classic is trading at $18.90 at press time.

SOL/USD

Solana (SOL) has lost less than ETC, going down by 0.83% since yesterday.

SOL/USD chart by Trading View

From the technical point of view, Solana (SOL) is trading similarly to Ethereum Classic (ETC) as the rate is about to touch the support level at $12.37.

Related
Ethereum (ETH) Price Analysis for November 19

Thus, the volume is low, which means that buyers are not willing to buy at the moment. Respectively, there is a high probability to see a drop to the $11 area soon.

SOL is trading at $12.72 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.

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