The king of cryptocurrencies, Bitcoin, is currently hovering around the critical $29,700 threshold, and losing this region may not yield positive results. The decline in the Bitcoin market followed the breach of the $30,400 level, which we warned about at the beginning of the week. Now, we will continue to wait for the July 26th Fed decision with a higher risk of further losses.
CEEK Coin Price Chart Analysis
So, what is the current situation with altcoins? New investors who see significant opportunities in the metaverse sector have turned to cryptocurrencies like CEEK. The growth of alternatives such as SAND and MANA in terms of price has also increased interest in CEEK Coin. CEEK is a relatively low market cap alternative that offers opportunities in the metaverse sector. How much will it be worth in the short term?
Although it is not independent of the Bitcoin price, the current chart provides important signals for CEEK Coin. The price has been steadily declining despite occasional interim peaks for over two years. After reaching a recent low of $0.05, the price recovered slightly, but CEEK Coin investors did not get what they wanted. Closing below $0.05 in the short and medium term will determine the new all-time low (ATL) point. Therefore, CEEK bulls should aim for the $0.065 range with a close above the $0.053 threshold.
In summary, the outlook is undermining optimism and there is a high risk of a new low.
LUNA Coin Price Analysis
One of the altcoins searching for new lows is LUNA Coin. The anticipated excitement did not materialize with the arrival of the new CEO. To make matters worse, Terra lost most of its popular applications to alternatives like Cosmos after going bankrupt about a year ago. There are various allegations against Do Kwon, ranging from document forgery to fraud, supported by strong evidence. There is not much Terraform Labs can do against these allegations.
Therefore, Terra (LUNA), which has turned into a ghost town, does not promise much in terms of long-term prospects. It does not attract much attention except for speculative traders and overly optimistic individuals. In the short term, the $0.61 level is critical. Closing below this level could lead to a retest of the $0.56 and even $0.5 regions.
Chiliz (CHZ) Coin Chart Analysis
Especially those interested in football and those who want to make seasonal profits from cryptocurrencies have sold their CHZ tokens before the end of the leagues. Purchases may increase as the leagues begin in the upcoming period. This is the case in the fan token sector. Cup competitions and league performances positively affect the price of CHZ Coin due to the direction of buyers and sellers who trade based on team performances.
Looking at the technical aspect, the importance of the $0.078 level will increase in the coming hours. This level is crucial for limiting losses. The price is currently holding above this level and may target $0.083 again. To reach $0.1 again, a clear signal of a turnaround will come above $0.086.
Of course, all these predictions can vary depending on the direction Bitcoin takes in an environment of extreme volatility. Moreover, technical analysis does not predict the future, and investors need to do their own research and create their strategies.
