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Altcoins have largely turned their direction downward following the recent BTC losses, with resistance tests concluding for many. CHZ Coin stood out positively during this process and reached its long-discussed target. So, what are the expectations for these altcoins with relatively low market value that investors are interested in?
Chiliz (CHZ) Commentary
The team recently announced Chiliz Chain Tokenomics 2.0, which includes a burn mechanism. This announcement increased investor excitement and we saw the price begin to rise. We have mentioned that upcoming announcements about Chiliz Chain and the end of sports leagues could positively impact the price. The level we have been highlighting for months was $0.14.
The price had broken free from the resistance line of the parallel channel in the week of January 15 and initiated an upward movement targeting $0.14. We had long discussed that closures above $0.085 could start a strong rally up to $0.14. Looking at the recent peak of CHZ Coin, it almost reached the 61% increase target.
If we see closures above $0.14 in the next period, the price could extend the rally up to $0.17. The targets of $0.2 and $0.27 also remain relevant in the medium term. However, the difficulty of BTC price in maintaining $51,000, the upcoming weekend’s low volume, and the presence of investors wanting to take profits suggest that this may not be possible in the short term.
If a downturn begins, in this scenario, there could be a new low between $0.112 and $0.098.
CEEK Coin Price Predictions
More declines are expected for CEEK Coin, but it remains away from deep lows by maintaining the $0.05 region. However, attempts in the last few days could eventually break the support. In this scenario, a return to the previously mentioned supports of $0.048 and $0.044 is likely. Closures below that would target the ATL (All-Time Low) region.
LUNA Coin Commentary
Do Kwon will soon be extradited to the US to attend a hearing in March. The decision has been confirmed, and the Terra founder will be sent to the United States instead of South Korea. We had said that this extradition approval would soon be officially announced and that the price would drop, so the recent low of $0.63 was not surprising.
If the LUNA Coin price closes below $0.64, we could see new lows between $0.55 and $0.388.
