Solana (SOL) has rapidly recovered and increased its value since the decline of FTX last year. The price of LUNA Coin has surpassed $1 after a long time. What could be the value of these three cryptocurrencies by the end of December?
SOL Coin reached up to $70 in the recovery process that started with Vitalik Buterin’s tweet “Solana gets rid of the fathers of money“, but it is currently experiencing a retreat. The rise of Bitcoin (BTC) has a general impact on altcoins.
At the time of writing, SOL Coin is trading at $60, moving away from its peak of $68 reached in the second week of November. It is important to see prices above $65 in daily candle closings; otherwise, a new low between $54 and $51 may occur. On the other hand, three-digit prices can be targeted with closings above $68.
The fact that LUNA Coin is above $1.14 increases hopes for a reversal. In the short term, daily closings within the current range can target $1.44 and $1.65. Terra has many competitors, so its resurrection from the ashes seems difficult. In the opposite scenario, closings below $0.94 may open the door to a return to $0.5.
As for CEEK Coin, we have been talking about the parallel channel since July, and the upper boundary line has not been broken for further rally. Due to the slowdown of hype in the Metaverse sector and CEEK Coin’s inability to make big promises as before, interest has decreased. Closings above $0.055 could lead to a possible reversal, but it is likely that the price will remain in the middle area of the parallel channel for a while.