AVAX, SOL Slip by 14% on Wednesday, as Prices Near 1-Week Low – Market Updates Bitcoin News

SOL dropped by 14% as the prices fell to an all-time low of $18. AVAX also saw a decline. Prices fell below $20 for the fourth consecutive session.

Solana (SOL)

SOL was lower in today’s session, as prices fell for a fourth straight session following a false breakout of the $40 level.

The world’s ninth largest cryptocurrency dropped to an intraday low of $34.24 in today’s session, which is its lowest point since June 23.

Wednesday’s six-day low comes less than 24-hours after prices were trading at a peak of $39.71.

Despite today’s nearly 14% decline, SOL is currently only 3.9% lower than at the same point last week, when prices rose to a peak of $43.

SOL/USD trades currently at $34.27. But bears could target $30.

To reach this level, however, the price of the RSI will need to drop below 42.30 on the 14-day RSI.

Avalanche (AVAX)

AVAX was on a similar path to SOL on Wednesday, as prices also fell by as much as 14% in today’s session.

After a Tuesday peak at $20.48, the AVAX/USD fell to $17.39 intraday earlier today.

With prices nearing their support at $14.50, this drop in the avalanche token saw it fall for the fourth day straight.

On Sunday, the bear market began. Prices tried to breach the $21.90 resistance but were unsuccessful.

Despite today’s drop in price, AVAX is still up nearly 3% from the same point last week, and as such, the 10-day moving average looks set for an upwards cross with the 25-day moving average.

If that happens and the 14-day RSI does not fall below its floor of 40.40, prices might rise back to $22.

Which exchange do you think AVAX will trade by July’s end? We’d love to hear your comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has worked in various capacities, including as a retail trading teacher, brokerage director, and market commentator for Crypto, Stocks, and FX.