Technical Analysis: SOL, LUNA and AVAX All Down on Friday

Solana, terra and avalanche were each little connected Friday, arsenic marketplace uncertainty impacted each large cryptocurrencies. This came arsenic respective of the large 10 each fell into multi-week lows versus the U.S. dollar.

Biggest gainers

With markets chiefly successful the reddish connected Friday, uncovering a bull was nary mean feat, however, determination were immoderate exceptions that weathered today’s storm.

The astir notable was NEO, which arsenic of penning is trading adjacent to 6% higher, arsenic it managed to evade the existent bearish pressure.

Following a debased of $23.45 during Thursday’s session, NEO/USD roseate to an intraday precocious of $27.03 earlier today.

The determination came pursuing a streak of higher highs which saw NEO ascent by arsenic overmuch arsenic $10 successful the past 3-weeks.

NEO/USD – Daily Chart

Friday’s rally was heightened by the information that the 14-day Relative Strength Index rallied beyond its caller ceiling of 59, and is presently tracking astatine 61.

NEO/USD besides marginally broke retired of its semipermanent absorption astatine $26, cementing a 1-month precocious successful the process.

Following this mendacious breakout, traders volition present hold to spot if terms spot volition summation further momentum this weekend.

Biggest losers

AVAX was down for a 2nd consecutive session, with LUNA falling for a 3rd consecutive day, though neither of these were today’s astir notable bear.

That grant was reserved for solana (SOL), which fell by astir 15% this week, starring prices to way adjacent to its semipermanent floor.

SOL/USD fell to an intraday debased of $90.27 during Friday’s trading session, and is down adjacent to 6% arsenic of writing.

Price spot besides faded, with the RSI falling heavy into oversold territory, and is presently tracking astatine 36, which is its lowest level this week.

SOL/USD – Daily Chart

These caller declines person pushed momentum lower, resulting successful the 10-day (red), and 25-day (blue) moving averages crossing downwards, which is simply a awesome of bearish sentiment.

SOL hasn’t traded beneath $89 since August, however, if this diminution extends, we could spot that this weekend.

Do you expect a swift rebound successful SOL prices? Let america cognize your thoughts successful the comments conception below.

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