The cryptocurrency market remains volatile, with Bitcoin hovering around $60,800. The prices of various altcoins, including Solana, Chiliz, and CEEK Coin, have also seen significant drops. Analysts have been closely monitoring the trends to make future predictions for these digital assets.
What Is the Future for Solana?
At the moment, Solana (SOL) is trading at $136, experiencing a 1.27% decline for the day. Bitcoin’s recent fall to $60,700 poses a risk of further decline to $58,500 if it breaks the $60,400 support level. In a favorable scenario, SOL could aim for the $141 and $158 range. However, continuous selling pressure might push SOL down to $107 or even $98.
How Will Chiliz (CHZ) Perform?
Chiliz (CHZ) had been showing positive divergence but succumbed to Bitcoin’s declining trend. CHZ fell below the $0.084 resistance and returned to a parallel channel. If the downtrend persists, it may test the $0.058 channel bottom, with potential dips to $0.05 or lower. To avoid further losses, it must hold the $0.071 middle channel area. In the absence of significant news, CHZ might continue its negative divergence in the short term.
What Does the Chart Say About CEEK Coin?
CEEK Coin is dangerously close to its all-time low, currently trading near $0.036. If it breaches this level, it could retest the $0.033 low from October 2023. Given Bitcoin’s lackluster performance, CEEK might hit a new all-time low, potentially making $0.03 an attractive entry point for investors.
User-Usable Inferences
Here are some actionable insights for traders:
- Monitor BTC’s support levels to gauge overall market direction.
- For Solana, watch for potential rebounds around $141 and $158.
- Chiliz needs to hold above $0.071 to prevent deeper losses.
- Consider buying CEEK if it approaches the $0.03 mark.
As the cryptocurrency market continues its fluctuations, traders should remain vigilant and watch for key support and resistance levels to make informed decisions.