In terms of market value, the leading cryptocurrency BTC is trading at $61,800, and the decline has halted for now. Due to excessive sales in altcoins, we saw a return to the support region. Meanwhile, assets like DOGE, SHIB, and CHZ experienced increases of over 8%. Yesterday, they were hitting new lows, so double-digit gains are not very surprising. What are the predictions for BONK, CHZ, and CEEK Coin?
BONK Coin Price Prediction
On May 29, BONK Coin made its last peak attempt and fell by 58% over 27 days from the peak. Now, it is roughly 27% above the low of $0.0000182 seen yesterday. We mentioned that this rapid turnaround was the result of excessive sales. The key support level of $0.0000212 was finally reclaimed today, and the price is above the region it has held for months. Now, it can target $0.0000282 and $0.0000353.
If successful, the bulls will focus on new peaks above $0.0000413. This altcoin, known for its consistent declines, can also make very rapid comebacks, potentially trapping the bears.
Chiliz (CHZ) Price Prediction
While emphasizing the critical importance of the parallel channel support, the feared scenario occurred, and CHZ Coin breached it but returned to the channel. We have long discussed the parallel channel midline at $0.071 as support, and this level served its purpose during the recent excessive sales. The recovery has begun, albeit weak, and the price is expected to target the resistance at $0.085. Once this level is surpassed, a test of $0.0940 could follow, making it an easy gain strategy.
In the opposite scenario, if we see another wave of excessive sales, the parallel channel bottom at $0.0590 will be tested. If the rise continues, $0.104 was a strong support region and needs to be reclaimed.
CEEK Coin Analysis
The worst-performing altcoin here is CEEK Coin. Both investor confidence and interest in the metaverse sector have weakened. As a result, CEEK Coin tested the $0.035 base, which we have been discussing for months as a potential new all-time low. We observed a very steady decline here, and if recovery begins, the support at $0.047 and $0.050 can be quickly reclaimed.
In a pessimistic scenario, a new all-time low price will be targeted.
