A short-term price analysis by CMCAlexandria of the industry's favorite giants! Will the trend continue or is there a ray of hope? 😰 Let's find out! 👇 Author: youngcryptowolf Editor: YousraAASheikh BTC ETH NEAR SOL LUNA AVAX
Looking at the 4-hour time frame, we can clearly see that the trend is in favor of the bulls. We can see higher highs forming up until the April high. Since then, the price has been consolidating, waiting for its next move.
Taking a closer look at our most recent price action, we can see that the price has struggled to close above $108 and hold its ground. Meanwhile $100 has been held as psychological support - but for how long?A 4-hour close below $99 is a sign that we will see Solana continue to print lower lows. However, a 4-hour above $103 will put the bulls in a good position to regain some ground.Let's take a look at one of the market's leaders in terms of price action growth, LUNA.
A 4-hour above $80 gives LUNA a good start on a recovery to $100. However, a 4-hour close below the April low would lead to a sell-off towards $70.Last but not least, let's take a look at everyone's favorite red coin - AVAX. A 4-hour close above $77 will set AVAX to make a run towards our area of interest. However, a 4-hour close below the psychological level of $73 could allow the price to continue to print lower lows.If you are one of those who skipped to the bottom to save some time, here is a summary of the above:ETH bulls need to flip the switch to start a bull run.Solana's support level looks weak when compared to others.AVAX continues to hold sturdy despite market conditions.
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