After experiencing a decline to its daily closing level, the price of Bitcoin is now finding buyers at $36,300. The price, which rose rapidly hours ago, fell even faster. We have been craving for such volatile movements for a long time. The price, which has been constantly moving sideways or downwards for the past 2 years, has exhausted investors. So, what is the current situation for AVAX and LUNA Coin?
LUNA Coin Analysis
Investors were expecting LUNA Coin to continue its speculative rise today. However, it was hit the hardest by the loss in BTC price. The bulls of LUNA Coin, which rose to $0.55 and aimed to extend the rally by surpassing the $0.6 level, were disappointed. Terra (LUNA), which fell to $0.45 with the decline in BTC, started to linger around its previous day’s price.
On the 4-hour chart, a close below $0.464 could bring a drop to $0.41 after $0.44 and $0.426. For a price increase, closes above $0.476 are necessary. If it can achieve this, it can once again target the $0.5 and $0.55 regions.
AVAX Coin Price in Turkish Lira
At the time of writing, the price of AVAX Coin had reached the range of 373 TL to 400 TL. The clear upward trend in terms of dollars was undermined by the recent decline in BTC. The price had reached the $14 limit, and with closes above $14.4, targets of $16-18 would come into play. For now, there hasn’t been a massive loss, and if BTC returns to high volatility days, a quick upward movement may also occur.
The weekly chart still shows a positive outlook. If we see a weekly close above $13.7, it would not be surprising to see new rallies for AVAX Coin investors. The closing prices have been positive for the past 3 weeks, and the same could happen if $12.6 is not lost.
The cumulative trading volume of cryptocurrencies has reached the threshold of $90 billion with the recent decline. Bitcoin dominance has declined slightly, and ETH has weekly gains of 12%. The recent BlackRock ETF application for ETH is promising for altcoins, and its effects may be felt more clearly in a few days. If the expected happens, we may experience a period where altcoins rise while BTC remains calm.
