- Solana has a strong bullish bias even as prices soar above a key resistance level.
- Avalanche saw its bullish momentum slow down and could witness a minor pullback.
Solana [SOL] and Avalanche [AVAX] saw a slightly different trajectory on the price charts over the past two days. The former continued to surge higher even as the rest of the crypto market shed some gains, while the latter’s bullish momentum weakened.
Bitcoin [BTC] was a major factor in the performance of altcoins. The capital flow into ETFs has been monumental, but this did not mean the altcoin markets were forgotten. Here’s how traders could navigate the incoming volatility.
Avalanche could retest a key demand zone, while Solana continues the uptrend
The AVAX chart showed two former bearish order blocks that have been turned into bullish breaker blocks over the past two weeks. These are highlighted by the white and cyan boxes.
The Fibonacci levels showed that a bullish trend was established once the white box resistance at the $43.35 mark was broken.
The $55.4 and $64.9 levels were higher timeframe resistance levels that traders need to watch out for. The OBV and the RSI were trending higher in recent weeks, showing bullish domination. More gains are expected to come after a pullback.
A retest of the $49 and $43 demand zones could occur, and would present a buying opportunity upon a retest.
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Author: Akashnath S
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