Bitcoin‘s price has dipped below $42,500, signaling a weakening market dominance and presenting opportunities for altcoins. In December, several altcoins experienced significant recoveries. This past week, double-digit gains became so common that over 30 altcoins on the Binance exchange simultaneously enjoyed such increases.
Solana (SOL) Coin struggled to maintain the $100 level as liquidity likely started shifting to alternative cryptocurrencies, leading to an approximate 8% daily loss. SOL Coin is now facing a reversal from its peak, and if the price breaks below the $97 support, it could potentially fall to $79 or, in the worst-case scenario, to $45.
The coming week is crucial for Bitcoin as the market anticipates the approval of ETF filings, which would symbolize an unofficial endorsement. The market’s reaction to this development will be significant.
Chiliz (CHZ) Coin price has finally escaped the parallel channel it had been trapped in for months. The price hovers around $0.09, and a weekly close above this threshold is critical. Failure to maintain this level could lead to a decline to the $0.07 middle zone, with the potential to test the parallel channel’s support at $0.059 for the first time since October.
If the uptrend continues, the first major target is $0.125, a level where sharp declines began in May 2023.
In the Metaverse sector, which has been largely ignored, CEEK Coin has not been particularly noteworthy. However, it recently managed to close above a long-awaited parallel channel resistance but failed to sustain higher levels, facing rejection. Should selling continue, CEEK Coin could drop to $0.055, with further support at $0.05 and $0.044, missing out on the recent mini altcoin bull run.
