The daily cumulative trading volume has fallen back from the level of 100 billion dollars to 50 billion dollars, and the excitement for ETFs is decreasing. For investors who look through the right window, the ongoing declines seem like an opportunity, as the benefits of mid and long-term spot Bitcoin ETFs will become clearer. Now, let’s discuss the current predictions for AVAX, CEEK, and LUNA Coin.
Avalanche (AVAX)
Avalanche (AVAX), one of the biggest Ethereum competitor layer1 solutions, is again below 40 dollars. AVAX is currently finding buyers at 36.5 dollars, but it has managed to stay strong despite massive unlocking events. There were concerns that profitable investors would push the price below 30 dollars with larger sales, but this did not happen.
For AVAX, the critical region is 31.5 dollars, and with closings above this level, the 50 dollar threshold can be targeted again. However, if this region is lost, we could see the decline deepen to 24.87 dollars. In the long term, it can be expected that the 50 dollar level will turn back into support and targets of 70 to 81.46 dollars will come into play. A strong recovery has started from single-digit prices, and we will learn in the coming days whether it will continue to 81.46 dollars.
CEEK Coin Chart Analysis
The Metaverse excitement is over, and CEEK Coin was not one of the leading altcoins in this space anyway. The altcoin, which has been struggling for an upward breakout within a parallel channel since June, has not been able to sustain above 0.055 dollars. It has returned to the 0.044-0.055 dollar range, where it has been stuck for approximately 7 months.
If the decline continues, the coin could revisit the ATL (All-Time Low) level of 0.033 dollars, and investors should be cautious with weekly closings below 0.05 dollars. Although the general market sentiment will determine the direction, things are not going great for CEEK Coin.
LUNA Coin Chart
Its founder is in prison, but the token continues to see demand on mainstream exchanges. The crypto space is truly interesting, and the fact that LUNA Coin has managed to survive without producing any benefits for a long time will not be forgotten.
LUNA, an altcoin known for its baseless, speculative price movements, is famous for its sudden rises and falls. However, since it has lost the 0.77 dollar level again, it seems inclined to return to 0.49 dollars unless we see a significant increase in risk appetite for altcoins. At this stage, investors should be cautious of sudden drops and set their stop-loss areas carefully.
