Bitcoin price reached $26,900 again after the positive news following the opening of the US markets. However, investors remain cautious for two reasons. The first reason is the previous unsuccessful attempts, which have left those who believed in the rise of BTC disappointed for the past few weeks. The second reason is the possibility of the thousands of profitable BTC sent to exchanges being sold. So what are the expectations for CEEK, LUNA, and AVAX?
CEEK Coin Review
First of all, let’s talk about the general market sentiment. The news of the approval of the ETH ETF futures excited investors. On the other hand, if BTC can see closings above $27,300, this excitement can increase the risk appetite of altcoin investors. The rise of ETH has reached 3% daily and this could be the beginning of a new wave of rise for these altcoins.
CEEK Coin has been searching for new historical lows for a long time. At the time of writing, CEEK Coin price is $0.037. When you look at the daily chart, you can see a slight downward trend with a long tail. The price has continuously tested below $0.036 for deeper lows. However, the region is currently being protected.
A closing above $0.0384 is needed for a possible recovery.
LUNA Coin Future
Even though a new CEO has taken office, last year’s fire destroyed the Terra ecosystem. Imagine an entire wooden neighborhood completely gone. The Terra management is now trying to build makeshift shacks and turn this place into a magnificent location. How long will this take? Months, years, and maybe they will never succeed. Speculative traders who buy LUNA Coin to profit from sudden price movements are actually buying the possibility of Terra’s failure.
Moreover, when it is already clear that it has failed. As for the price, the $0.38 region has been marked as a temporary bottom and the price has returned to the $0.55 region. As we mentioned before, the weakness of interest and volume in the market can trigger these speculative rallies.
If the $0.5 region can be maintained, the rise could continue in the short term with the support of the general market sentiment. In the opposite scenario, it is expected to return to where it started and form a deeper low.
AVAX Coin Outlook
In the short term, it seems difficult for AVAX Coin to rise amid inflation. Impressive million-dollar unlocks will continue to affect the market for a long time. While the price needs to stay the same or even increase, the Avalanche team needs to do more. Demand needs to be generated, but the lack of interest in the DeFi and NFT sectors is eroding token demand. So will new partnerships be announced? Time will tell.
AVAX Coin price is moving away from the risk of falling to the $5 region. Currently, closings above $9 are good for a double-digit price. If the price can maintain this region, it can return to the $10.12 region after $9.44 and $9.67.
