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Reading: Bitcoin Hits New All-Time High as Altcoins Struggle to Keep Up
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COINTURK NEWS > Technical Analysis > Bitcoin Hits New All-Time High as Altcoins Struggle to Keep Up
Technical Analysis

Bitcoin Hits New All-Time High as Altcoins Struggle to Keep Up

In Brief

  • Bitcoin's new peak at $72,800 outpaces altcoin gains.

  • Solana lags behind BNB despite a 25% weekly increase.

  • CHZ, RACA, and CEEK coins show varied market potentials.

COINTURK NEWS
COINTURK NEWS 2 years ago
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The new historical peak for Bitcoin (BTC) has been reached at $72,800. It is rising so rapidly that altcoins can’t keep up with BTC’s pace. Most cryptocurrencies have experienced increases that are still not comparable to the surge in BTC’s price. The rise in BTCD has prevented the expected rapid surge in Ethereum (ETH) price, thus halting a massive rally across altcoins.

Solana (SOL)

One of the biggest Ethereum competitors by market value. However, it can no longer reclaim its ranking position from BNB Coin. SOL Coin’s price increase remained behind the 25% weekly rise of BNB Coin. Therefore, it needs to see a market value growth of $12 billion to regain its ranking.

Contents
Solana (SOL)CHZ Coin Price PredictionRACA Coin Price PredictionCEEK Coin Price Prediction

Regarding the price, closures above $148 were crucial for accelerating the rally. SOL Coin is achieving this and soon needs to surpass $156 to target the $177 and $200 peaks. Beyond that, there is the historic peak of $256. Potential sales after $143 and $138 could gradually push bulls down to $104.

CHZ Coin Price Prediction

While BTC is not as heated, CHZ Coin was more eager for a rise. Now, it is struggling to surpass $0.167. For the rally to gain momentum and the price to reach targets of $0.2 to $0.27, bulls need to see closures above $0.17. A strong stance above the parallel channel resistance indicates the rally could continue.

RACA Coin Price Prediction

One of the altcoins that has received intense interest from Turkish investors. In the last 3 weeks, the price has tripled, and a rally could accelerate with closures above $0.00071. RACA Coin, visiting this region for the first time in 665 days, seems to be focusing on its long-term targets as it continues to rise for three weeks.

Of course, BTC should remain supportive at this point. During the continuation of the rally, $0.00087 and $0.00115 could be tested. Closures below $0.00051 would look risky.

CEEK Coin Price Prediction

CEEK Coin is also one of the altcoins that Turkish crypto investors are highly interested in. We had said it could reach $0.1 in a potential speculative rally, and the price dropped a zero with the excitement of BTC’s peak. For this altcoin, known for its speculative price movements, the next targets (in an optimistic scenario) will be $0.124 and $0.141.

In a downturn, $0.083 and $0.057 are important support levels.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 12 March, 2024 - 4:43 am 12 March, 2024 - 4:43 am
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