The worst days for cryptocurrencies are long gone, and the market has recovered since the November 2022 crash. However, even with an upward trend, cryptocurrencies do not experience continuous, unbroken increases. On such days, declines that can be considered the opposite of interim rises in a downtrend also occur. So, what levels await CHZ, AVAX, and LINK Coin investors at this stage?
Is Chiliz (CHZ) Coin at the Bottom?
CHZ Coin price is now moving towards the bottom of the channel, maintaining the middle area of the parallel channel as support. The interim support at $0.065 was maintained, but the real bottom is at $0.059. If the CHZ Coin price continues to fall, it may react from here. BTC has slowed the decline for now. Losing the channel support will open the door to $0.053. In a possible reversal, the target is again the middle area at $0.071.
Avalanche (AVAX)
Before this week’s major decline, AVAX fought hard to maintain $29 as support. Due to its double-digit annual inflation, AVAX did not experience as strong growth as its competitor SOL Coin. Additionally, its community is not as strong as Solana‘s. This situation negatively affecting its price performance caused it to fall below $25 with the BTC decline.
All markets rise when DXY weakens, and crypto can diverge negatively. This situation, familiar to old investors, is surprising for newcomers. In fact, as they will wait in loss for a while, the weakening in volumes can last for weeks. AVAX, which lost the parallel channel support at $31.6, has not yet erased all its gains from last December. If it wants to return to the last point where the rise started, a new test at $22.3 is possible, but $24.5 is holding it.
Chainlink (LINK) Coin Commentary
The price, recovering from the $12.6 support, is now lingering at the $13 threshold. In the long term, LINK Coin is a potential cryptocurrency, and its steps in the RWA field have brought loyal investors. However, downturn periods are still challenging. Here, the parallel channel support at $12 is a possible test point.
If it falls below the support, $10.7 will take on the role of main support. A long lower wick may form here during the decline.
