The big day has arrived, and after hours, the Fed will announce its interest rate decision, giving investors a sigh of relief until November 1st. The Bitcoin price was relatively strong this week, and investors saw slight recoveries in altcoins. However, since the king of cryptocurrencies did not reach new highs, we could not witness impressive rallies in altcoins for now.
With its speed and low cost, Solana soared in 2021, supported by the NFT craze. However, a year later, Solana took the opposite direction with the collapse of FTX. The Solana ecosystem was shattered with the bankruptcy of its biggest investor, and many valuable ventures transferred to rival networks. With the decrease in TVL, Solana became semi-dead.
The SOL Coin price is struggling to maintain the $20 zone. If the price can close above $20.6, it can reverse the downtrend starting from $30. Depending on the upcoming news in the evening, we may see a movement to $25 or $14 within a few days. Increased volatility is expected by most experts.
2023 has not been a good year for AVAX. In addition to the general market decline, it has been struggling with approximately 40% inflation. The $9 level is currently being maintained. The last time the price was at this level was in July 2021. In early 2021, the price also reached these levels. Then, the price reached $150, appreciating more than 15 times. While those who bought at the bottom are lucky, investors who bought at the $100 zone and have been waiting until now are feeling sad in these days.
If the price cannot hold above $8.5, it may test the $6.83 level.
Fan tokens manage to differentiate themselves positively from the general market sentiment during their seasons. However, they become victims of the general market sentiment during silent periods, until the champions are determined. As the UEFA final match approaches on May 22, 2024, we may see the CHZ ecosystem becoming more active. On the other hand, as league championships are determined, there has been a past trend of price movements. So, if the past repeats itself, this period could be an accumulation period for CHZ.
As long as the price holds above $0.057, the situation remains positive. A closure above $0.06 is needed for a clear reversal from the bottom.