Altcoins faced a significant setback as Bitcoin‘s price dropped below $64,000, currently standing at $63,500. The recent test of the $65,000 mark and the emergence of a stronger contender against Trump contributed to the decline in altcoin values. Many altcoins have turned red. Let’s delve into the latest forecasts for LUNA, SOL, CHZ, and CEEK Coin.
What is the Prediction for LUNA Coin?
The anticipated rejection at $0.46 coincided with Bitcoin’s downturn, causing LUNA Coin’s price to fail to maintain the $0.43 support. This suggests potential attempts at $0.38 if Bitcoin’s price doesn’t rebound. Continued selling may push the target down to $0.3. Bitcoin is currently hovering around $63,600 with a daily low of $63,333.
What Lies Ahead for Solana (SOL)?
SOL Coin fell below the $162 mark. While the key support level is crucial for its ATH journey, the market sentiment shift led investors to sell, bringing the price to $156. As long as there are no closures below $153, SOL Coin could see new upward attempts. After the daily close and the opening of Asian markets, it will become clearer if the recent drop was a trap. If selling persists, the $135 base might be tested, with further supports at $116 and $100.
Current Forecasts for Chiliz (CHZ)
The middle line of the parallel channel remains intact for CHZ Coin. Similar to SOL Coin, the pace of sales will hinge on Bitcoin’s weakness. CHZ is currently just below the $0.07 support. Should the decline continue, the parallel channel support at $0.058 might be tested, along with lower wicks. For a clear recovery, Bitcoin support is crucial, and daily candle closures above $0.077 are needed to potentially see new peaks in the $0.106 to $0.132 range.
CEEK Coin’s Price Outlook
The $0.039 level, a critical support, couldn’t be reclaimed for CEEK Coin. This scenario is reflective of most altcoins, where higher support levels turned resistance, hindering further rise. If Bitcoin’s selling pressure continues, CEEK Coin could revisit the recent ATL level of $0.028.
Key Inferences
• LUNA Coin could see a target of $0.3 if Bitcoin’s decline continues.
• SOL Coin needs to stay above $153 to attempt new upward moves.
• CHZ Coin requires daily closures above $0.077 for a potential recovery.
• CEEK Coin might hit $0.028 if Bitcoin’s selling persists.
The current market sentiment indicates a challenging period for altcoins, heavily influenced by Bitcoin’s performance. Monitoring Bitcoin’s movement and key support levels for altcoins will be crucial in the coming days.
