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Cryptocurrency investors are leaving July behind, and like June, July did not meet expectations. The $70,000 resistance level was tested for the sixth time but could not be surpassed, and sales continue at resistance levels. We are experiencing days where those who have seen the peaks as short-selling opportunities for a long time are making gains, and at some point, this trend needs to reverse with a surprise timing.
Solana (SOL)
Network activity is strong, liquid staking tokens support TVL, and meme coins are relatively active. However, SOL Coin cannot start the expected rise due to the negative sentiment in the general market. While preparing for trials above $190, the rapid depreciation of BTC discouraged SOL Coin bulls.
This situation is not surprising and has been observed for a long time. However, it is also true that Solana (SOL) price has remained strong compared to other altcoins. A daily close above $188 is necessary for the SOL Coin price to target $210 again. If it can achieve this, it may move towards a new peak of $256.
In the event of a rapid BTC drop, SOL Coin may retreat to $111, the parallel channel resistance where the rise started. Intermediate levels are currently $158 and $137.
Shiba Coin Commentary
The $0.0000159 support is currently holding, but if BTC cannot make a comeback, the Shiba Coin price may fall below this level. The first target in a possible decline will be $0.0000146. In a scenario where the second-largest meme coin makes a comeback, it will first need to reclaim the parallel channel support at $0.0000209. Above this, the middle line of the channel at $0.0000260 will be attempted to be surpassed.
In a scenario where the rally accelerates, the target will be $0.0000294, and beyond that, there will be an environment for testing a new ATH. For now, the fate here is also tied to BTC.
Chiliz Coin Commentary
CHZ Coin price aimed for new peaks by positively diverging before the leagues ended. However, both the end of the leagues and the increased negative fluctuations in cryptocurrencies have greatly worn out the bulls here.
In closings above $0.064, it may stay away from the parallel channel support at $0.058. For the CHZ Coin price to recover, the start of the leagues approaching and the BTC price moving steadily upwards are essential. The first recovery signal will be reclaiming the middle area of the channel at $0.07.
