Solana

<p>Technical analysis in the cryptocurrency <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a>, especially for those trading in the futures market, is an indicator that investors must continuously follow. What kind of clues does technical analysis provide for Solana, which is trading at $59.53 at the time of writing, and Avax at $21.05? We examine this with a detailed chart analysis and key support and resistance levels.</p>
<h2 id="solana-chart-analysis">Solana Chart Analysis</h2>
<p>The first notable formation on Solana’s four-hour chart is the ascending channel formation. The price’s rapid momentum increase is a factor that steepens the formation’s slope. Following the rise on November 16th, Solana faced selling pressure but then entered a horizontal trajectory and managed to gain upward momentum with the strength from the support line.</p>
<p>The most important support levels to follow on the four-hour chart for <a href="https://en.coin-turk.com/is-solana-coin-coming-to-its-future/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SOL</a> are; $58.39, $55.28, and $51.42, respectively. A four-hour bar closing below the $55.28 level will invalidate the formation structure and cause SOL’s price to lose significant momentum.</p>
<p>The most important resistance levels on the four-hour chart for SOL are; $61.79, $66.42, and $71.26, respectively. A bar closing above the $61.79 level, which has been a major obstacle in recent bar formations, will allow SOL’s price to gain momentum in the short term.</p>
<p><img decoding="async" class="aligncenter wp-image-283077 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/solana-grafik-1.png" alt="" width="2405" height="1245"></p>
<h2 id="avax-chart-analysis">Avax Chart Analysis</h2>
<p>The first notable formation in the two-hour Avax chart is a triangle formation. The bar formations squeezed in a narrow area within this formation structure and then a breakout of support or resistance plays a major role in determining the price direction. <a href="https://en.coin-turk.com/avalanche-avax-a-promising-project-in-the-crypto-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">AVAX</a>‘s price finding support at the EMA 200 (red line) level is an important factor for a short-term rise.</p>
<p>The most important support levels to follow on the two-hour chart for AVAX are; $20.70, $20.06, and $19.55, respectively. Especially a bar closing below the $20.70 level, which plays a significant role in recent closures and intersects with the EMA 200 level, will lead to AVAX facing selling pressure in the short term.</p>
<p>The most important resistance levels on the two-hour chart for AVAX are; $21.58, $22.32, and $23.05, respectively. Especially a bar closing above the $21.58 level will enable the formation to work upwards and AVAX’s price to gain momentum.</p>
<p><img decoding="async" class="aligncenter wp-image-283078 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/avax-grafik-2.png" alt="" width="2412" height="1252"></p>
<ul class="summary">
 <li>Technical analysis reveals trends in Solana and Avax.</li>
 <li>Support and resistance levels are crucial for price momentum.</li>
 <li>Chart formations offer insights into potential price directions.</li>
</ul> Continue Reading: <a href="https://en.coin-turk.com/insights-on-solana-and-avax-technical-analysis-and-market-predictions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/insights-on-solana-and-avax-technical-analysis-and-market-predictions/</a>

Insights on Solana and Avax: Technical Analysis and Market Predictions

Table of Contents

COINTURK NEWS

Outros artigos publicados em 30 de nov. de 2023

THORChain (RUNE) and Ethereum (ETH) Stagnate: A New Crypto Rises to Challenge the Status Quo

Shiba Inu Price Prediction 2040: Mapping Out the Next Moves

XRP's Three Green Candle Pattern: A Prelude to a Price Surge?

XRP Price Analysis for November 30

Crypto Exchange Gate.io Introduces ZK-Protected Proof-of-Reserves Instrument: Review

Ancient Bitcoin Whale Awakens and Moves Thousands of BTC

Join our free newsletter for daily crypto updates!