Bitcoin (BTC) has recently experienced a downturn, dropping from the $100,000 threshold to a new low of $92,500 within a day. This decline has adversely affected various altcoins, notably Solana (SOL) and Chiliz (CHZ), as negative U.S. economic data intensifies selling pressure and tests critical support levels.
What Lies Ahead for Solana (SOL)?
In a pessimistic outlook, the price of SOL Coin could fall to $188. As of now, it is striving to recover from this recent dip. If the downward trend continues, $176 could be the next low. The ongoing underperformance has left many investors disappointed as they awaited a resurgence.
Can Chiliz (CHZ) Maintain Its Support?
Chiliz (CHZ) Coin faces significant obstacles despite ongoing optimism regarding its future. While it lost the crucial support level of $0.0856, it has remained above $0.072, which has been a key point for several months. Continued price declines could see CHZ testing $0.072 and further down to $0.059.
- Bitcoin’s recent fall has directly impacted altcoins like SOL and CHZ.
- SOL must surpass $202-203 to initiate a potential rally towards $220 and $228.
- CHZ needs to reclaim the $0.0946 level for higher targets around $0.1163 and $0.1431.
With Donald Trump’s presidency fast approaching, there is cautious optimism that he will remain true to his cryptocurrency commitments. Investors continue to watch market trends closely as they navigate these volatile conditions.
