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Bitcoin Price Losing Support, Investors Moving Away from the Market
At the time of writing, BTC continues to test new support levels. The king of cryptocurrencies is facing the risk of dropping to $23,500 and $20,000. On the other hand, the popular altcoin CEEK has been experiencing a lack of demand for a long time, leading to deeper all-time low levels. As we have shared the chart below multiple times, deeper bottoms are on the way. CEEK Coin price has not surprised and continues to find buyers from the new all-time low zone of $0.0366.
If there are no closings above $0.038, the selling pressure may continue towards $0.03. In this case, investors’ loss will reach 70% since the peak on August 11th.
Chiliz (CHZ) Coin Review
There is a price approaching historical lows not seen since March 2021. If the selling pressure continues, CHZ Coin may drop to the $0.03 region at the beginning of 2021. The previously highlighted horizontal support area has been lost. As long as the price remains below $0.056, deeper bottoms should not come as a surprise. At the time of writing, the rapidly declining BTC price has left CHZ and other altcoin investors with significant losses.
The efforts to build its own network, especially with partnerships in the football industry, still make CHZ Coin remarkable. However, while these agreements used to be the biggest price catalysts, no good news is coming in that regard anymore. The fact that most teams have already determined their route in terms of cryptocurrencies has had an impact on this.
To have a possible recovery, the $0.0595 region should be reclaimed. Closures above this region can bring back tests at $0.064. In the short term, since the base support has been lost and many four-hour candles have closed, BTC seems to continue its downward trend, so the buying zone may not have come yet. Of course, the unpredictable nature of cryptocurrencies should not be forgotten.
