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COINTURK NEWS > Technical Analysis > Market Trends Affect Altcoins as Bitcoin Reaches New Highs
Technical Analysis

Market Trends Affect Altcoins as Bitcoin Reaches New Highs

In Brief

  • Bitcoin $ prices continue to set all-time highs, while the anticipated scenario unfolds for altcoins. As BTC climbs, the increasing dominance of Bitcoin naturally limits liquidity flow into altcoins, leading to stagnation or declines in their prices. What are the current forecasts for popular altcoins?ContentsForecasts for BONK and AVAX PricesAnalysis of SOL and CEEK Coin […]
İlayda Peker
İlayda Peker 6 months ago
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Bitcoin $107,718 prices continue to set all-time highs, while the anticipated scenario unfolds for altcoins. As BTC climbs, the increasing dominance of Bitcoin naturally limits liquidity flow into altcoins, leading to stagnation or declines in their prices. What are the current forecasts for popular altcoins?

Contents
Forecasts for BONK and AVAX PricesAnalysis of SOL and CEEK Coin

Forecasts for BONK and AVAX Prices

Some exceptional altcoins will accompany BTC’s rise, and as Bitcoin’s market dominance weakens, altcoin prices are expected to accelerate. This cyclical behavior has been observed in previous market phases and is anticipated to repeat. BONK Coin remains in the spotlight due to its recent gains. Investors are excited about the potential for new peaks since it is experiencing its first bull market cycle.

If it continues to close above its previous all-time high of 0.00004796 dollars, BONK Coin could see new peaks. Today, BONK Coin reached a new high of 0.00006085 dollars, signaling the potential for further price increases. Investors will monitor whether the previous ATH level at 0.00005164 can hold as support during short-term pullbacks.

AVAX prices have largely remained stagnant. The price has failed to approach its peak of 38 dollars, which it must regain to show significant upward movement. Otherwise, we may not see substantial price action aside from the upper limits at 42 dollars. A decline could test the support level at 31.5 dollars, while a break at 50 dollars would indicate a resurgence in momentum.

Analysis of SOL and CEEK Coin

It is normal for altcoins to weaken against BTC, although some exceptions exist. While ETH remains stable, SOL Coin has approached the 250 dollar threshold, nearly reaching its all-time high. As of the writing, the price hovered around 236 dollars, and if it breaks free from the current BTC pressure, it could rise to new peaks between 300 and 500 dollars after surpassing 256 dollars.

Previous analyses indicated that CEEK Coin could form upper limits above 0.04 dollars, which is currently occurring. While those buying at lower levels and selling at peaks can secure short-term gains, CEEK Coin’s long-term outlook remains risky.

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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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İlayda Peker 20 November, 2024 - 6:42 pm 20 November, 2024 - 6:42 pm
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