THELOGICALINDIAN - Solana NEAR and AVAX were all trading over 20 lower on Wednesday as all-around crypto markets connected to abatement on humpday The cryptocurrency bazaar cap is currently bottomward 635 as traders connected to abstract the contempo blast in the amount of LUNA and UST
Solana (SOL)
Solana was bottomward by over 20% during Wednesday’s trading session, as the buck bazaar acquired by the blast in LUNA connected to accelerate shock after-effects through the markets.
After trading at a aiguille of $70.90 on Tuesday, SOL/USD alone to a low of $49.69 beforehand in the day.
This bead in amount is the better one day move this year, and has beatific SOL to its everyman akin back August aftermost year.
Overall, prices accept been on a bottomward trend back a bootless blemish attack of the $93 attrition point, which came the day afore the Fed amount decision.
Looking at the chart, the 14-day RSI is account off the charts, and is currently tracking at 24.87, which is the weakest akin it has recorded in about bristles months.
Despite beforehand losses easing, amount was still bottomward 24.30% from yesterday’s peak, with traders still attractive to acquisition a abiding abutment point.
Avalanche (AVAX)
Aside from LUNA, which fell by over 90% in today’s session, AVAX was addition notable mover, as it alone by over 30% today.
The badge fell to an intraday low of $27.85 on Wednesday, afterward a aiguille of $48.52 during yesterday’s session.
As a aftereffect of the move, AVAX/USD fell to its everyman akin in about nine months, as prices about alone beneath $20.
Overall, AVAX has alone by over $70 back the alpha of April, with today’s attic the everyman akin prices accept been back aftermost August.
Looking at the chart, the 14-day RSI is now tracking beneath 23, which is the weakest akin this indicator has hit back the birth of AVAX.
Bulls will use the actuality that prices are so acutely oversold as a positive, about with no bright amount floor, we may see added ambiguity to appear in accessible sessions.
Could we see AVAX breach beneath $20 this week? Let us apperceive your thoughts in the comments.
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