• Price Analysis: 20 September for Solana, Avalanche, and Terra

  • Several altcoins have bled, following in the footsteps of Bitcoin and Ethereum. Over the last 24 hours, Solana, Avalanche, and Terra have all seen significant drops in their respective charts. Solana’s one-week low prices were revisited, while Avalanche’s uptrend was broken, with the coin losing 14.2 percent of its value. Finally, Terra could trade near its one-week lows before resting on its one-month low price.

    Solana (SOL)

    The price of Solana has dropped by 13.7 percent in the last 24 hours. The price of the coin was $138.91. SOL was trading at a one-week low at this point. Solana’s nearest support line was $125.95, while the other price floor was $93.20.

    The price of SOL was below the 20-SMA line on the four-hour chart, indicating that momentum was with the sellers. The Relative Strength Index was below 40, indicating that selling pressure was present. On Awesome Oscillator, red signal bars were visible. On the histogram, MACD flashed red bars as well.

    SOL, on the other hand, may try to retest the $163.74 price ceiling. Price resistances were also found at $188.53 and $214.03, respectively.

    Avalanche (AVAX)

    Avalanche had dropped 14.2 percent in the previous day and was trading at $61.86. AVAX’s uptrend was broken when it experienced a sell-off in the last 24 hours. The altcoin’s price was below the four-hour 20-SMA, indicating that price momentum was favoring the sellers.

    The altcoin’s immediate support line was $55.40, followed by its one-week low of $48.26. On the histogram, MACD flashed red bars. Inside the bearish zone, the Relative Strength Index was below the half-line.

    A downtrend was indicated by dotted lines above the candlesticks in the parabolic SAR. In the event that prices recover, AVAX may face resistance at $64.80, followed by $73.83.

    Terra (LUNA)

    Over the last 24 hours, LUNA has dropped 16.2 percent. The token was $29.83 in price. The one-week low price of $25.93 and the one-month low price of $19.16 served as support levels.

    All of the indicators pointed to a bearish price movement. Near the 20-mark, the Relative Strength Index was in the oversold zone. On the histogram, MACD showed red bars.

    Bollinger Bands, which showed divergence, signaled the possibility of price volatility. The first price ceiling that LUNA would face in the event of a price reversal was $32.89. The other resistance levels were $38.27 and $43.46.

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