BTC, ADA, BNB, AVAX and DOT Price Analysis for January 2

In case the rise continues, bulls can come back to the purple level at $1.479 soon. Such a scenario is relevant until the end of the next week.Bulls keep holding the initiative as the price remains trading above the vital mark of $500. This level is crucial for bulls as, if they lose it, bears can return the rate to the support at $489.

In other words, a further rise may be a prerequisite for continued growth to $573.Despite today's rise, bulls may not have accumulated enough power as the price remains trading in the middle of the channel between the support at $101 and the resistance at $147. Sideways trading is also confirmed by the low trading volume. If AVAX keeps trading above $110, there is a possibility to see $150 shortly.

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