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COINTURK NEWS > Technical Analysis > Bitcoin’s Decline Halts Altcoin Rally
Technical Analysis

Bitcoin’s Decline Halts Altcoin Rally

In Brief

  • Altcoins halted their rally as BTC fell below $64,000.

  • LUNA Coin might see $0.38 if BTC doesn't recover.

  • CEEK Coin could reach $0.028 if BTC sales continue.

COINTURK NEWS
COINTURK NEWS 2 years ago
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Altcoins experienced a halt in their rally as BTC price fell below $64,000. It is currently at $63,500. After testing $65,000, the possibility of a stronger candidate against Trump also led to a decline in altcoins. Many altcoins turned red. So, what are the current predictions for LUNA, SOL, CHZ, and CEEK Coin?

Contents
LUNA Coin PredictionSolana (SOL)Chiliz (CHZ)CEEK Coin Price Prediction

LUNA Coin Prediction

The expected rejection at $0.46 came with the BTC decline. LUNA Coin price is unable to hold $0.43 as support. This means we might see new attempts at $0.38 if BTC doesn’t recover. If the selling continues, $0.3 could be the new target. BTC is currently at $63,600, with a daily low of $63,333.

Solana (SOL)

SOL Coin lost the $162 level. The key support level for the ATH journey is crucial, but the change in overall market sentiment pushed SOL Coin investors to sell, and the price is lingering at $156. As long as there are no closures below $153, SOL Coin might attempt new upward moves.

We will likely see if the recent drop was a trap after the daily close when Asian markets open. If the selling continues, the $135 base might be tested. Below that, there are supports at $116 and $100.

Chiliz (CHZ)

The middle line of the parallel channel has not been fully lost yet. In the CHZ Coin front, similar to SOL Coin, the acceleration of sales will depend on the continuation of BTC weakness. Currently, the price is just below the $0.07 support. If the decline continues, we might see the parallel channel support at $0.058 and lower wicks.

For a clear recovery, BTC support is needed, and daily candle closures above $0.077 should be seen. This way, we might see new peaks in the $0.106 and $0.132 range.

CEEK Coin Price Prediction

The $0.039 level represents the support that couldn’t be reclaimed. The outlook is similar for most altcoins, including CEEK Coin. Higher support levels (now turned resistance) needed for the continuation of the rise couldn’t be maintained. If BTC sales continue, CEEK Coin might see the recent ATL level of $0.028.

You can follow our news on Telegram, Facebook & Coinmarketcap & X
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 18 July, 2024 - 11:10 pm 18 July, 2024 - 11:10 pm
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