THELOGICALINDIAN - SOL neared a tenmonth low on Tuesday as bears alternate to crypto markets during the affair Following a able alpha to the anniversary markets angry red with AVAX actuality addition badge to abatement victim to the latest red wave
Solana (SOL)
SOL was aback in the red on Tuesday, as today’s sell-off pushed prices afterpiece to their everyman point back August aftermost year.
Following a aiguille of $42.99 to alpha the week, SOL/USD slipped to an intraday low of $37.78 beforehand today, which is almost 11.50% lower than yesterday’s high.
Tuesday’s bead beatific SOL aback appear its abiding abutment point of $38.10, and hardly afterpiece to its ten-month low beneath this attic at $35.50.
Looking at the chart, the sell-off took abode afterward a bootless blemish attack of the 39 akin on the 14-day RSI indicator.
As apparent from the index, this point has acted as a attrition akin in contempo weeks, and has not confused above that mark back May 5.
So far, SOL beasts accept fought off bears to anticipate a full-on breach of the $38.10 floor, about should about backbone abide to decline, again a blemish will acceptable occur.
Avalanche (AVAX)
AVAX was addition notable mover on Tuesday, as bearish burden beatific the world’s fourteenth-largest crypto badge lower.
Less than 24 hours afterwards hitting a aerial of $26.58, AVAX alone by $3 in today’s session, falling to a low of $23.24 in the process.
Like SOL, today’s bead in amount saw AVAX/USD move to a abutment level, in this instance the $22.70 point.
This akin is additionally hardly aloft a ten-month low, which for AVAX is at $21.11, a low which came aloof over two weeks ago.
Despite actuality so abutting to this position, prices abide to consolidate, about it is acceptable that traders accept already placed orders, should they accept any added bearish signals.
This could action if the Relative Strength Index avalanche beneath 36.80, which appears to be a point of support.
Will we acceptable see new multi-month lows in both AVAX and SOL this week? Let us apperceive your thoughts in the comments.
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