Have buyers accumulated enough power to keep the growth going?
The market has started the new week with a neutral mood as some coins keep rising while others have already faced a correction.
BTC / USD
Yesterday morning, buyers attempted to reestablish the price of Bitcoin, but again failed to overcome the two-hour EMA55 resistance. For two weeks, the pair has not been able to break above this moving average EMA55.
At the end of the day, the price returned to the level of $ 55,287 and renewed the monthly low to around $ 55,628. For two weeks, the pair has not been able to break above this moving average EMA55.
On the day, expect a further decline below 78.6% Fibonacci support. Bears may look to retest the $ 53,400 level.
Bitcoin is trading at $57,280 at press time.
ETH / USD
By the end of yesterday’s day, the bears brought the price of Ethereum (ETH) down to the $ 4,000 level. The daily low is set at $ 4,024.
Over the past night, with decreasing volumes, the pair recovered to the area of $4,100. Today, the downward pressure may intensify and the price may break through the psychological level of $ 4,000.
In the near future, one can expect an update of the monthly minimum in the support area of $3,800.
SOL / USD
Solana (SOL) is in the red zone, down 2.76% on the last day.
Solana (SOL) is trying to consolidate around the area of $220. The trading volume is low, which means sideways trading remains the most likely scenario for the next few days. In this case, the altcoin may keep trading around $200.
SOL is trading at $ 216.73 at time of publication.
AVAX/USD
Avalanche (AVAX) is even more of a loser with a decline of almost 4%.
Despite the fall, Avalanche (AVAX) remains above the vital support line at $ 129.94, meaning the fall may just be a correction so the bulls can gain more power for growth. If such a scenario comes true, there are high chances of seeing the test of the $140 zone soon.
AVAX is trading at $ 130.58 at time of publication.
