Bitcoin has surged to a record high of $72,800, outpacing the growth of other cryptocurrencies. This rapid ascent has left altcoins trailing, with Bitcoin’s dominance hindering the anticipated surge in Ethereum’s value, thus stalling a potentially widespread altcoin rally.
Solana’s Market Position Challenge
Solana, a major Ethereum rival in terms of market capitalization, is struggling to regain its position from Binance Coin (BNB). With only a modest increase compared to BNB’s 25% weekly gain, Solana needs an additional $12 billion in market value to reclaim its standing. Price movements indicate that surpassing the $156 mark could lead to targeting higher peaks at $177 and $200, with the ultimate high at $256 in sight.
Chiliz Eyes Higher Price Points
Chiliz (CHZ), another cryptocurrency actively pursued for gains, faces resistance at $0.167. To trigger a more robust rally and hit price points between $0.2 and $0.27, closures above $0.17 are critical. A sustained position over the resistance level of the parallel channel suggests that the rally could persist.
RACA Attracts Turkish Investors
RACA coin, after tripling in value within three weeks, has captured significant interest from Turkish investors. As it revisits levels not seen in 665 days, further increases could occur with closures above $0.00071. The coin’s trajectory hints at long-term aspirations, with potential tests at $0.00087 and $0.00115 if Bitcoin continues to provide favorable market conditions.
CEEK’s Speculative Surge
CEEK coin, known for its speculative nature, also enjoys considerable attention from Turkish investors. Following Bitcoin’s lead, CEEK has shed a zero in its price, pointing to optimistic targets at $0.124 and $0.141. In case of a downturn, $0.083 and $0.057 emerge as significant support levels to watch.