Bitcoin‘s price continues to search for a new low beneath $40,000, recently dropping to $38,555. The critical support level of $38,500 is currently holding, but unexpected high-volume trades could increase volatility in altcoins. The demand in futures markets is setting the stage for such high-volatility movements.
CEEK Coin has not shown significant progress over three years, failing to get listed on popular exchanges despite a high concentration of Turkish investors. The lack of technological advancement and credibility issues within the team during metaverse land sales have contributed to the current situation.
Despite the market’s uncertainty, buyers are seen at the $0.044 support level for CEEK Coin. Rapid sales during Bitcoin’s decline indicate some buyers are finding value, but this support may be lost if Bitcoin’s weakness continues, potentially leading to a new all-time low price.
Contrarily, CHZ Coin bulls appear determined to hold onto their gains despite market negativity. After escaping months of sideways trading, CHZ remains above the critical region even as Bitcoin retreats to the $38,500 support level.
Positive closures above $0.085 for CHZ Coin could lead to a quick recovery, especially if Bitcoin rebounds above $42,000. Key levels to watch are $0.106 and $0.112, with potential movements towards $0.131 and $0.143. A medium-term peak target is set at $0.27. However, a drop below the parallel channel’s resistance could lead to a decline to the $0.072 mid-area, with possible retests of $0.058 and $0.055 if Bitcoin plummets to $30,000.