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Reading: Current Market Trends Highlight Price Movements in LUNA, AVAX, SOL, and CHZ Coins
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COINTURK NEWS > Technical Analysis > Current Market Trends Highlight Price Movements in LUNA, AVAX, SOL, and CHZ Coins
Technical Analysis

Current Market Trends Highlight Price Movements in LUNA, AVAX, SOL, and CHZ Coins

In Brief

  • Bitcoin holds $63,600 while altcoins show significant volatility.

  • Investors await critical announcements that could impact LUNA and other coins.

  • Market dynamics remain uncertain, influenced by economic data and interest rates.

Ömer Ergin
Ömer Ergin 8 months ago
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Bitcoin’s price stood at $63,600 during the preparation of this article, while altcoins are reminding traders of rapid declines following quick rises. As Bitcoin $104,790 currently maintains $63,000, the possibility of the two-quarter nightmare of ups and downs ending remains prevalent. What are the current predictions for LUNA, AVAX, and SOL Coins? What price targets does CHZ Coin aim for?

Contents
LUNA Coin AnalysisAVAX Price CommentarySolana (SOL) AnalysisChiliz (CHZ) Coin Review

LUNA Coin Analysis

The recovery at $0.40 brought speculative attempts towards $0.510, but LUNA Coin erased a significant portion of its gains. It was announced that many services would be halted if Terraform Labs could not sell them to third parties; however, investors pursuing speculative trades have once again influenced the graph. Announcements expected tomorrow may likely increase volatility.

If the decline continues, we may see attempts below $0.3098 as the support from which the recovery started is lost.

AVAX Price Commentary

Although AVAX had the opportunity to accelerate with the recent rise in BTC, the bulls failed once again. After a delayed rise, AVAX returned below $30, with a current price of $28.2.

If $27.2 is lost, the AVAX price could drop to the $22.8 support level. Currently, the $28 level is maintained, which may allow for a rapid bounce back if BTC recovers. Nevertheless, the unease surrounding upcoming data and interest rate cuts seems insignificant, though the potential risk of recession increases with further economic easing.

Solana (SOL) Analysis

The general market decline has also dashed the hopes of SOL Coin bulls, causing the price to drop below the $160 level again. We have long emphasized that $162 is a critical threshold. Following rejection at resistance, SOL Coin investors are now facing a new drop to the $148-$150 range. If this level cannot be maintained, a test at $138 may be on the horizon, while the target above the $162 resistance is $188.

Chiliz (CHZ) Coin Review

After a 44% increase in nine days, CHZ Coin is now retreating from the mid-area of its parallel channel. The resistance at $0.0702 was not surpassed due to the BTC drop. If selling continues, the price could test $0.0588. Before that, $0.0647 has the potential to serve as support.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
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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Ömer Ergin 30 September, 2024 - 8:39 pm 30 September, 2024 - 8:39 pm
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