The total transaction volume of cryptocurrencies is still over $160 billion, and BTC is maintaining $71,000. Despite fluctuations in the last 24 hours, the cumulative value of cryptocurrencies is also at the threshold of $2.7 trillion. So, what do the current predictions indicate for AVAX, LUNA, and XCN?
Avalanche (AVAX) Commentary
One of the biggest Ethereum competitors by market value, AVAX Coin has distinguished itself positively today. Upcoming Ethereum updates will not surpass Avalanche in terms of transaction fees, even with Layer 2 solutions. Therefore, the existence of cheap and fast networks like Solana and Avalanche is expected to continue.
Finally, with this week’s bullish candle, the AVAX price has broken through the tough $50 resistance. If the weekly close remains this way, we could see a new peak between $69 and $73. While SOL Coin and others experience parabolic rallies, AVAX price has only risen by 522% from the bottom in 190 days.
Bulls, who have been lingering in the $50-31.5 range for a long time, may now have caught the opportunity they were looking for. If BTC does not make a deeper dip after the $73,000 peak, an optimistic scenario for AVAX could materialize. Otherwise, if the AVAX price falls below the resistance area, it could drop to $38, $31.5.
LUNA Coin Price Prediction
Long wicks show us how annoying speculative price movements can be. LUNA Coin price is gradually decreasing. The $1 support is solid for now, but the details we will see in the US court and the official extradition of Do Kwon to South Korea could unsurprisingly lead to increased negativity.
In the event of a rapid decline, we could see new lows down to $0.55 with closures below the $0.8 needle. Losing the parallel channel resistance could also open the doors for new all-time lows.
XCN Price Forecast
One of the recent low market cap altcoins that has attracted attention is XCN Coin. Despite the negativity in BTC price, it has experienced a significant increase today. The price, which has risen up to 90% in two days, has returned to $0.00326 today.
If we see closures below $0.00312, sales could continue down to $0.00233.
