Bitcoin (BTC) price reclaimed $67,000 today, potentially limiting excessive losses in altcoins. Last week’s decline was triggered by a strong employment report. Although inflation data was positive, the Fed’s cautious stance made investors skeptical and reduced risk appetite. So, what are the current predictions for SHIB, LTC, and CHZ Coin?
Shiba Coin Analysis
Hours ago, we mentioned that the SHIBA Coin price was about to break its 100-day support. Fortunately, today’s candle turned green, averting the feared scenario. Recovering slightly from the bottom, Shiba Inu (SHIB) is trading at $0.0000217. Yesterday’s test showed that this level was reached three times. The price then returned to the middle area of the parallel channel.
If the same scenario repeats, we could see the Shiba Coin price move to $0.0000255 and beyond within a few days. This would mean a recovery of over 20% from the bottom. Investors taking risks in the current environment will either gain over 20% or face a nearly 50% drop if support is lost.
Litecoin (LTC) Price Prediction
The second altcoin rebounding from the bottom is LTC. After testing the $76 bottom, the price is now preparing to reclaim $80. If successful, targets of $86 and $89 could come into play with closures above $81.4. If the final target is surpassed, $95 is expected to become support for continued upward movement. This would encourage bulls for a new move towards the $112 resistance.
In the opposite scenario, we could see excessive selling down to $67.5.
CHZ Coin Predictions
Bulls stubbornly defending $0.11 achieved their goal. The price is now attempting to turn $0.12 into support. If today’s daily candle closes above the key area, Chiliz (CHZ) Coin could accelerate its rally towards $0.132 and $0.143. The price remains above the parallel channel resistance where the rally started, so the uptrend continues in the medium term.
The possibility of a decline has not been eliminated, and new lows below $0.1 would not be surprising if support is lost.
