Negativity prevails in the cryptocurrency markets, and investors are increasingly concerned about further declines. AVAX, LUNA, and CEEK Coin have been on the radar of investors for a long time, and they have also taken their share from the recent downturn. So, what can investors expect in the coming days? What do the latest data suggest?
The Future of AVAX Coin
Bitcoin price is currently trading at $29,135 at the time of writing this article. AVAX, on the other hand, is hovering around $11.53 and is close to the $11.21 support level. The increasing interest in Ethereum layer2 solutions is confusing long-term Avalanche investors these days. However, this recent downward movement is not related to that. The overall market sentiment of negativity and the weakness of buyers are causing the AVAX price to fall along with others. On the other hand, collaborations with AWS and Google and the announced grant programs to support tokenized assets indicate a positive long-term outlook for Avalanche.
As for the price, the $11.23 region is an important support level on the daily chart. If the overselling continues, we might see the price drop to the $10 range. On the other hand, if BTC starts a surprise recovery, we can expect an upward movement towards $13.85, $15.73, and $18.
LUNA Coin Analysis
The new CEO has not yet been able to provide the expected contribution to the project. On the other hand, the situation involving Do Kwon and other senior executives indicates that the future of LUNA Coin is not very bright. Those who remember our previous market evaluations about LUNA mentioned that the price could establish new all-time lows, and that is what is happening with the loss of the $0.55 and $0.5 levels recently.
At the time of writing this article, the price of LUNA Coin is at the critical support level of $0.48. If there are closures below this level, we could see a much deeper all-time low at $0.4 and $0.3.
CEEK Coin Analysis
The price, which has been moving in the range of $0.044 to $0.055 for about a month, is now closer to the bottom. If there is a significant drop in BTC price, we may see the horizontal support break. On the other hand, for the start of an upward movement, we can expect the testing of the $0.068 region with closures above $0.055.
Bear markets are periods when many popular altcoins disappear. If we are approaching the end of the process, altcoins like CEEK Coin may face a do-or-die test. The price, which is in the all-time low zone, may establish new historical lows in the coming days.
The above predictions will largely be shaped by Bitcoin price movements, so it may be beneficial for investors to closely monitor the king of crypto.
