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SOL, LUNA and AVAX All Down on Friday – Market Updates Bitcoin News

Solana, terra and avalanche have been all decrease on Friday, as market uncertainty impacted all main cryptocurrencies. This got here as a number of of the massive ten all fell into multi-week lows versus the U.S. greenback.

Greatest gainers

With markets primarily within the pink on Friday, discovering a bull was no imply feat, nonetheless, there have been some exceptions that weathered right this moment’s storm.

Essentially the most notable was NEO, which as of writing is buying and selling shut to six% greater, because it managed to evade the present bearish stress.

Following a low of $23.45 throughout Thursday’s session, NEO/USD rose to an intraday excessive of $27.03 earlier right this moment.

The transfer got here following a streak of upper highs which noticed NEO climb by as a lot as $10 within the final 3-weeks.

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Technical Analysis: SOL, LUNA and AVAX All Down on Friday
NEO/USD – Each day Chart

Friday’s rally was heightened by the truth that the 14-day Relative Power Index rallied past its latest ceiling of 59, and is presently monitoring at 61.

NEO/USD additionally marginally broke out of its long-term resistance at $26, cementing a 1-month excessive within the course of.

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Following this false breakout, merchants will now wait to see if worth energy will achieve additional momentum this weekend.

Greatest losers

AVAX was down for a second consecutive session, with LUNA falling for a 3rd straight day, though neither of those have been right this moment’s most notable bear.

That honor was reserved for solana (SOL), which fell by virtually 15% this week, main costs to trace near its long-term flooring.

SOL/USD fell to an intraday low of $90.27 throughout Friday’s buying and selling session, and is down shut to six% as of writing.

Value energy additionally light, with the RSI falling deep into oversold territory, and is presently monitoring at 36, which is its lowest stage this week.

Technical Analysis: SOL, LUNA and AVAX All Down on Friday
SOL/USD – Each day Chart

These latest declines have pushed momentum decrease, ensuing within the 10-day (pink), and 25-day (blue) shifting averages crossing downwards, which is a sign of bearish sentiment.

SOL hasn’t traded beneath $89 since August, nonetheless, if this decline extends, we may see that this weekend.

Do you anticipate a swift rebound in SOL costs? Tell us your ideas within the feedback part beneath.

eliman@bitcoin.com'
Eliman Dambell

Eliman brings a diversified viewpoint to market evaluation, having labored as a brokerage director, retail buying and selling educator, and market commentator in Crypto, Shares and FX.




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