Biggest Movers: SOL Slips 10% as Crypto Bears Return to Action – Market Updates Bitcoin News

SOL neared a ten-month low on Tuesday, as bears returned to crypto markets during the session. Following a strong start to the week, markets turned red, with AVAX being another token to fall victim to the latest red wave.SOL was back in the red on Tuesday, as today’s sell-off pushed prices closer to their lowest point since August last year.

Tuesday’s drop sent SOL back towards its long-term support point of $38.10, and slightly closer to its ten-month low below this floor at $35.50.Looking at the chart, the sell-off took place following a failed breakout attempt of the 39 level on the 14-day RSI indicator. So far, SOL bulls have fought off bears to prevent a full-on break of the $38.10 floor, however should relative strength continue to decline, then a breakout will likely occur.AVAX was another notable mover on Tuesday, as bearish pressure sent the world’s fourteenth-largest crypto token lower.

Like SOL, today’s drop in price saw AVAX/USD move to a support level, in this instance the $22.70 point.This level is also slightly above a ten-month low, which for AVAX is at $21.11, a low which came just over two weeks ago.

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