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COINTURK NEWS > Technical Analysis > Investors Gear Up as Cryptocurrency Market Shows Promising Trends
Technical Analysis

Investors Gear Up as Cryptocurrency Market Shows Promising Trends

In Brief

  • Cryptocurrencies show potential for growth in 2024.

  • Solana and Chiliz are targeting significant resistance levels.

  • CEEK and ADA are experiencing speculative interest.

İlayda Peker
İlayda Peker 1 year ago
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As we stand halfway between 2000 and 2050, time flies swiftly. Cryptocurrencies have experienced significant global growth in a short span. The recent influx of ETF products has made it easier for everyone, including professional investors, to access the market. Currently, Bitcoin $78,680 is hovering around $97,500. What are the expectations for SOL, Chiliz, CEEK, and ADA Coin this month?

Contents
Insights on Solana (SOL) and Chiliz (CHZ) CoinComments on CEEK and ADA Coin

Insights on Solana (SOL) and Chiliz (CHZ) Coin

A fresh chapter for cryptocurrencies seems to have begun as we enter the first quarter of 2024. Depending on this month’s performance, we could witness a repeat of the explosive growth seen in 2021. With Trump taking office, discussions about cryptocurrencies in the White House are expected to shift from disdain to admiration. Key figures like the Treasury Secretary, Commerce Secretary, and officials from the SEC and CFTC are anticipated to be crypto-friendly.

Trump has had a majority in both the Senate and the House for nearly two years. While things are moving steadily, improvement could be possible. The only way to counteract the Fed’s bleak predictions of two interest rate cuts this year would be to observe a decline in CPI and PCE data over the next month or two. As for Solana $84 (SOL), its price has breached the $200 mark.

Closing above $202 will likely pave the way for a return to the $212 to $228 range. Following this, SOL Coin’s price might aim for the $247 resistance, potentially leading to a new all-time high.

Chiliz (CHZ) Coin has been aligning with key points we’ve emphasized for months. Bulls aiming for $0.0946 are defending the parallel channel resistance at $0.084. If this level is crossed, resistance levels of $0.1078 and $0.1166 will come into play. To achieve a target of $0.30, we need to see closures above $0.127.

Comments on CEEK and ADA Coin

CEEK Coin, which dropped to $0.036, shows signs of recovery, though its long-term risks persist. Any significant increase will likely occur only in a speculative rise, targeting the $0.05641 to $0.0653 range if $0.0448 is reclaimed with market sentiment supporting it.

For Cardano (ADA) $0.250154, latecomers might find the opportunity to buy at $0.84. Upon surpassing the $1 threshold, a journey back toward $1.30 could commence.

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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İlayda Peker 2 January, 2025 - 11:45 pm 2 January, 2025 - 11:45 pm
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By İlayda Peker
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