Bitcoin (BTC) has turned downward again and is seeking a new low below $60,000. The sales on the BTC front are related to the rapid recovery from $49,000 not triggering the expected demand at higher levels. Although the price increased rapidly, investors took advantage of the satisfactory selling opportunity above $60,000. So, what is the situation with altcoins?
XRP Coin Predictions
On the lawsuit front, things are progressing in favor of XRP Coin, yet the negative impact of BTC’s price is causing XRP to linger at $0.56. This is a relatively high level, and the success in court has reflected on the price. If $0.54 is maintained positively and the parallel channel support at $0.579 can be reclaimed (if BTC permits), we might see the XRP Coin price fluctuating between $0.73 and $0.94.
CEEK Coin Price Prediction
The expected new ATL at $0.025 occurred for CEEK Coin due to the general market decline. Now, it is struggling to maintain $0.029 as support, but the overall market sentiment is still not supportive. The lack of interest in Metaverse altcoins combined with CEEK Coin’s long-term failure makes things even more challenging.
For a potential rise, $0.034 must turn into support. On the other hand, if BTC does not reclaim $63,000 and return to an upward trajectory, a new decline may be seen as short-term gain seekers give up.
Chiliz (CHZ) Coin
The $0.043 level was not seen even during the toughest days of bear markets. Therefore, the price that descended to the 2021 region attracted buyers, forming a long lower wick. Leagues are starting, and active months are approaching for fan tokens. Hence, if BTC permits, CHZ Coin could climb back to the mid-range of $0.07 if it can reclaim the parallel channel support at $0.0591.
Beyond this, a rally journey could begin with closures above $0.0953, making the dream of $0.3 possible again.
AVAX Price Prediction
The AVAX price has the potential to see $18.5 below $19.4, and it has dropped even further. Although it has reclaimed $20 for now, the high annual inflation and weak overall market sentiment make things difficult for AVAX bulls.
For the rise to continue, closures above $24.8 are needed. If AVAX can achieve this, it could target $33 and $42 again. On the other hand, if sales deepen, $13.2 could be the bottom.
