The daily cumulative trading volume has dropped from $100 billion back to $50 billion, and the excitement over ETFs is waning. However, for investors with a long-term perspective, the current declines in the market could present opportunities, especially as the benefits of spot Bitcoin ETFs become more apparent over time. Let’s delve into the latest predictions for AVAX, CEEK, and LUNA Coin.
Avalanche (AVAX), a major Ethereum competitor, is now trading below $40, despite having maintained its strength amid significant unlocking events. While there were concerns that profitable investors might push the price below $30, AVAX has managed to find buyers at $36.5. The critical zone for AVAX is $31.5; maintaining above this level could target the $50 threshold again. If lost, a drop to $24.87 could be seen. In the long term, reclaiming $50 as support with potential targets of $70 to $81.46 is anticipated.
CEEK Coin, not a leading altcoin in the Metaverse hype, has returned to the $0.044-$0.055 range where it has been stuck for approximately seven months. If the downtrend continues, CEEK could revisit the all-time low (ATL) of $0.033. Investors should be cautious with weekly closes below $0.05, as the overall market sentiment will determine CEEK Coin’s direction, which currently does not look promising.
LUNA Coin remains in demand on mainstream exchanges despite its founder being in prison, highlighting the peculiar nature of the crypto space. Known for its baseless, speculative price movements, LUNA has lost the $0.77 level and might retreat to $0.49 if there is no significant increase in risk appetite for altcoins. Investors should be wary of sudden drops and set stop-loss areas carefully.
In summary, AVAX shows resilience with potential for recovery, CEEK struggles to break out of its long-term range, and LUNA continues to attract interest despite its founder’s legal issues and its speculative price behavior. Investors should remain cautious and consider the broader market trends when making investment decisions.