Biggest Movers: AVAX, SOL Slip by 14% on Wednesday, as Prices Near 1-Week Low

SOL was down by as much as 14% on Wednesday, as prices fell close to a one-week low earlier today. In addition to this, AVAX saw a similar decline, as the token dropped for a fourth consecutive session, with prices moving below $20. Solana (SOL) SOL was lower in today's session, as prices fell for.

Timeline of Avalanche, Solana

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Avalanche performed well in the market over the past two weeks, although it did shed nearly 40% from 11 June to 19 June.

Last week, the Solana (SOL) price witnessed a V-shaped recovery and rallied to the $42.6 mark. However, the supply pressure at this level triggered a pullback and plunged the coin price below the flipped support of $37.

Reciprocal Ventures, the early-stage backers of Solana and The Graph, has closed a $70 million fund, according to a release. The post Early-stage Solana-backer Reciprocal Ventures launches $70 million fund appeared first on The Block.

Cryptocurrencies are generally a type of money similar to others we have – the dollar and the euro, for example – except being entirely digital. That is, rather than being exchanged in person, cryptocurrency payments exist solely online, specifically on the blockchain. The coin's name comes from the fact that it uses cryptography to confirm

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Despite the strong bounce from the $18k lows, Bitcoin [BTC] has a bearish outlook on the longer timeframe charts.

Solana has found good support at $37 and the price now appears in preparation to move higher. Key Support levels: $37 Key Resistance levels: $44 After a successful test of the key support at $37, Solana's price is ready to move higher and test the key resistance at $44.

Recently, Solana price analysis has been facing a lot of selling pressure and has dropped to $39.16. The market is currently in a bearish trend and may continue to decline in the near future.

Avalanche price analysis suggests a downwards movement to $18 The closest support level lies at $18.94 AVAX faces resistance at the $21.91 mark The Avalanche price analysis shows that AVAX has failed to break above the $22.00 resistance level and has fallen back to the $19.00 mark as the selling pressure increases over.

Avalanche price analysis remains bullish for the 4th successive day, as price notched another 4 percent over the past 24 hours to move as high as $21.75. AVAX had been subject to a sideways trend since June 17, 2022, after facing a stern decline down to $13.64 in the week before.

The Avalanche (AVAX) price action showcases a bull cycle gaining momentum within the falling parallel channel in the daily chart. The reversal rally surpasses the overhead resistance trend line indicating a breakout spot.