Bitcoin (BTC) fell back to the $60,200 level at the time of writing, and altcoins are trimming their gains. Fed’s interest rate cuts are now certain, with members indicating a 25, 50, and then 25bp cut, totaling a 100bp annual reduction priced in by the market. Fed members are aware of this pricing and are making statements that confirm it.
CEEK Coin Price Prediction
BTC’s price drop could push altcoins back into despair. However, as long as $60,000 is maintained, the process could turn into a trap for those looking for short-selling opportunities. Bears, who have been turning every peak into a selling opportunity for weeks, should be caught off guard in this or the next upward attempt.
CEEK Coin is at $0.0304 and recently set an ATL level. Continuations above $0.028 could keep it from seeking new lows. On the other hand, $0.045 will be the target point in a possible rise.
FLOKI Coin Commentary
Closures above $0.0000967 reflect an appetite for a rise. FLOKI Coin is trying to surpass $0.000146 for further increases, but long upper wicks indicate profit-taking. For now, closures above $0.000127 show the potential for an upward jump still exists. Movement here may increase depending on BTC price performance.
XRP Coin Price Target
Having lost $0.6 again, XRP Coin could drop to $0.58 and $0.56. Closures below $0.56 could lead to a drop to $0.5. Although the lawsuit excitement has subsided for now, the potential for increased volatility based on news flow continues. If a general rally starts in altcoins, we should see large market cap altcoins like XRP Coin leading it.
AVAX Price Commentary
Good news came in succession today. Franklin, a $1.6 trillion asset manager, is highly active in the crypto space. Now, it has expanded its blockchain-based fund to the Avalanche network. This is a unique opportunity for AVAX to advertise in the RWA space. In the medium term, the story of competing with Ethereum in the RWA space could be supported by other players coming to the Avalanche network.
Grayscale’s trust was the second big news for AVAX today. Now, AVAX should aim for $32 with closures above $25.94, hoping for BTC’s price to remain strong.
