On the last day of the week, the bulls were unable to hold the initiative as most of the cryptocurrencies were in the red zone again. Crypto analyst Denys Serhiichuk analyzes the price of Bitcoin (BTC), Solana (SOL), Terra (LUNA), Dogecoin (DOGE), and Avalanche (AVAX). We also provide Denys Serhiichuk’s analysis on Cryptocoin. We have prepared for com readers.
Bitcoin, Solana, Terra, Dogecoin and Avalanche analysis
Bitcoin (BTC)
Bitcoin (BTC) price has increased by 0.48% since yesterday as altcoins fell.
On the daily chart, BTC is approaching the $39.573 resistance level. If buyers can break this down and fix it above, it could be translated into mid-term growth. Such a price action is valid until mid-February.
Left (LEFT)
Solana failed to follow Bitcoin’s rise and fell 2.12%.
After rebounding from support at $87.73 to the left, the price continues to trade sideways, accumulating strength for a sharper move. In this case, close attention should be paid to the $104.82 level; Breaking this level could be a prerequisite for continued growth.
Terra (Luna)
LUNA is the biggest loser on the list, down 7.43%.
LUNA looks much worse compared to other altcoins. The price is returning to the recently tested support level of $47.44 on the daily timeframe. If the bears manage to break this down, the decline could continue to the next level at $37.88 in the next few days.
Dogecoin (DOGE)
DOGE has dropped 0.53% in the last 24 hours.
Despite the decline, DOGE is trading sideways as the price sits between the $0.1310 support and $0.1506 resistance. Right now the price is closer to resistance which means the bulls are stronger than the bears to some extent. In this context, if buyers correct above the $0.15 zone, the rise could continue to $0.16 shortly.
Avalanche (AVAX)
AVAX is no exception to the rule, down 1.17%.
AVAX is located closer to the $76.57 resistance level. Sales volume fell, which means the bears lost their initiative. If buyers can seize this chance and bounce back above $80, AVAX could return to a medium-term uptrend.
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