With the recent increase in Bitcoin prices, altcoins have also started to show significant movement. This positive trend has sparked renewed interest in various cryptocurrencies. Notably, maintaining higher closing levels for BTC is crucial to sustaining the current bullish sentiment. What do the latest chart analyses indicate for FLOKI, SOL, and LUNA Coins?
How is FLOKI Coin Performing?
FLOKI Coin has shown resilience with a strong support level at $0.000128 and has surpassed the resistance level of $0.000186 as expected. However, for FLOKI bulls to maintain their momentum, Bitcoin needs to stay above $65,000. Currently, Bitcoin is hovering around $64,800. If FLOKI experiences a dip, it could establish a new local low between $0.000160 and $0.000131.
Several factors justify the recent upward trend, and their effects on the price are expected to reflect in the coming weeks. If the anticipated conditions are met, a rally to $0.000205 could mark the beginning of a new phase, with targets set at $0.000267 and $0.000314.
What are the Prospects for Solana (SOL)?
SOL Coin has been attempting to break the $163 mark but has yet to succeed. The recovery from $135 has been encouraging, but investors need confidence that BTC will stay at higher levels for the weekly close. If the rally continues, targets at $175 and $188 could be reached, followed by a test of the last resistance at $205.
A daily close above $205, coupled with positive news regarding SOL ETF and ETH ETF listings, could propel SOL Coin to $256 and beyond by the end of the month. Investors might feel more confident about the rally after receiving affirmations from the BTC market. Currently, any potential pullback is expected to avoid closing below $150.
Key Insights
Here are some actionable insights based on the current market trends:
- Monitor Bitcoin’s ability to maintain levels above $65,000 to gauge the strength of the altcoin rally.
- Keep an eye on FLOKI’s support and resistance levels for potential entry and exit points.
- Watch for SOL ETF and ETH ETF listing news, as this could significantly impact Solana‘s price.
- Be cautious of potential dips in LUNA Coin if Bitcoin retraces to lower levels.
Conclusion
LUNA Coin is attempting to reclaim the support level at $0.54, currently struggling to turn $0.44 into a stable support. Previous analyses suggested that breaking above $0.44 could trigger short-term selling pressure, especially if Bitcoin pauses its upward movement and returns to around $63,000. In such a scenario, LUNA might dip to $0.38. For LUNA, the safe zone remains around the $0.54 support level, with any rise below this marking short-term attempts.