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The price of Bitcoin has risen above $36,000 again after a rapid decline and is currently hovering around that level. The end of the expected correction for the cryptocurrency markets remains uncertain, but altcoin investors are hopeful. While positive macro data supports optimism about the interest outlook, this hope has not been fully reflected in prices yet.
Solana Coin Chart
Despite the recent FTX sales, Solana, one of the biggest Ethereum killers, has experienced a significant increase. The FTX sales are nearing completion, and the price is above $60. We have been discussing the strong institutional demand for SOL Coin funds for a long time. The increasing demand for the GSOL trust issued by Grayscale has led to a massive positive premium, resulting in significant gains for these institutional investors. We mentioned how the bear market in the past month was triggered by GBTC, and a similar outcome is possible for SOL Coin in the medium to long term.
Regarding the price, daily closings above the $47 region support further upward movement. Although there was a temporary drop to $50, the price has reclaimed $60. If the upward trend continues, the levels of $68, $80, and $95 could be targeted.
Chiliz (CHZ) Coin Analysis
In an attempt to surpass the resistance line we mentioned earlier, CHZ Coin has been testing it but has not been successful. The price seems to continue trading within a narrow range and is finding buyers at $0.078 at the time of writing. If CHZ Coin bulls can stay above $0.767, they can attempt to test the resistance again.
However, there is a possibility of a drop to $0.073 and $0.067. There is support at $0.065.
CEEK Coin Predictions
In order to rise, CEEK Coin needed to enter a parallel channel and surpass the resistance, but like CHZ, it failed to do so. It attempted on November 12th and 13th, but the $0.0588 barrier prevented further upward movement. The price is now at the support of $0.048, and if it falls below that, selling pressure could continue towards $0.0455.
If CEEK Coin experiences a V-shaped decline, it could drop to $0.033.
