Bitcoin $103,051 has managed to break free from the $85,000 range and approaches the $88,500 threshold; however, it has struggled to surpass this mark. The U.S. stock markets closed the day down by 2.5%, which makes today’s attempt and current price relatively acceptable. Despite the decline in equities, Bitcoin’s ability to maintain the $87,000 level raises hopes for potential rallies in altcoins in the coming days.
Solana (SOL)
SOL Coin has again surpassed the $138 mark, but a retreat in Bitcoin’s price has quickly dragged it down. Due to prolonged indecisiveness in Bitcoin’s price movements, altcoins have suffered significant losses. Consequently, investors have adopted a more cautious stance in both upward and downward trends, which is a justifiable strategy, though a stable rally must eventually commence.
The U.S. stock markets have been pressured by ongoing statements from Trump regarding Powell, claiming he is not performing his duties properly. Under this pressure, the Federal Reserve is unlikely to lower interest rates, as doing so might raise concerns about its independence.
For these reasons, cryptocurrencies need to start rising positively at this stage. Otherwise, the period we refer to as “sell and take a holiday” may begin around mid-May, forcing investors to wait until late July for a return to the market.
For SOL Coin, a daily close above $145 could lead to new attempts at $158 and $182 targets. This potential hinges on Bitcoin testing $92,000 and leading the way upward.
Chiliz (CHZ) and CEEK Coin Comments
Disregarding the rise, CHZ Coin has lost significantly during the decline, reaching new lows. Currently, it is defending the $0.03 support level. If it can maintain above this, new highs between $0.04 and $0.053 may emerge. While the first two quarters seem promising for CHZ Coin, it has struggled to surpass $0.143 and approach $0.3, being one of the leading coins in the downturn that began last December.
If there is no substantial increase in risk appetite, CHZ Coin will likely remain in a dip range capped at $0.06.
CEEK Coin has paused its steady decline, and if it can exceed $0.0156, it may spike to $0.0181 and beyond. For nearly two years, we have warned about the trend towards consistently new ATL levels. CEEK Coin has remained true to this pattern and continues to surprise.