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The cumulative value of cryptocurrencies is not far from $1.09 trillion. However, altcoins remain calm. The reason for this is the losses experienced by altcoins due to BTC price movements. For example, the drop after today’s $28,143 test pushed altcoins to deep lows. This causes altcoins to erode more in the medium term as the BTC price rises and falls.
Will LUNA Coin Rise?
LUNA Coin, which is a complete failure story, is taking steps to survive. A new CEO was appointed to the team when management went to prison. However, this person admitted how difficult the job was as soon as they took office. It is also difficult to say that this CEO, who has a high probability of failure, has achieved any significant success so far.
On the other hand, LUNA Coin loves speculative periods we are in. So, if we see meaningless double-digit increases, we should not be surprised. Of course, this requires the continuation of the increase in BTC price.
In April, when it reached $119, no one could have predicted that the price would drop to today’s $0.42 levels. On the daily chart, LUNA Coin continues to return the gains from the speculative movement on September 27.
This movement alone reveals the risk for LUNA Coin. If closings below $0.417 occur, sales can continue down to $0.389 and $0.36. So what’s next? In the long run, in my personal opinion (unless there is a period of rising movement that triggers speculative movements), the price will go to $0.1 and maybe even deeper.
Comments on AVAX and CEEK Coin
The FUD that came to Stars Arena today increased sales in the application. This SocialFi project, which could result in serious positive results for Avalanche, seems to have fallen victim to FUD and system problems for now. The critical range for AVAX is between $9.7 and $10. If the price continues to stay in this area, it can continue to rise. Otherwise, we may see a journey to deeper lows below $9.
There is not much to say about CEEK Coin chart. The enthusiasm for Metaverse has diminished, CEEK Coin has lost trust due to not relying on its own token in virtual land sales, and we are in the middle of bear markets.
After this stage, it would not be surprising to see deeper ATL levels for CEEK Coin. After all, the support of the parallel channel, which is the last resort, was lost on August 24. CEEK Coin investors need a strong recovery in general market sentiment.
