Recent discussions between Canada and the US progressed relatively well, with Canada’s Prime Minister making promising statements. Although the process is advancing, it is clear to everyone that tariffs won’t disappear overnight. This transition period doesn’t bode well for cryptocurrencies, as gold reaches new highs while risk assets face negativity due to cautious investors.
Solana (SOL) and Chiliz (CHZ)
The crypto market is set for high volatility on May 7th. Despite the Fed’s interest rate decision being known, the chances of Powell unexpectedly signaling easing have diminished significantly. Should we witness unexpected signs of softening, hopes for the year’s second half may increase. Conversely, cryptocurrencies may experience further declines if surprises do not materialize.
Many fundamental issues with cryptocurrencies have been resolved, and work has begun on US regulations that could trigger global regulations. Without tariffs, we might be in one of the best surge periods in history and at a turning point. However, global tariffs and the risk of new global blocs have overshadowed many positive developments this year.
As for SOL Coin, it holds potential to test support levels between $134 and $120 within the next 48 hours. In case of a general dip, recovery rallies from these areas might occur. However, an initial deal counterbalancing tariff fears or Powell’s possible soft messages could change the game, potentially leading to movements reaching $158 and $177.
CHZ, DOGE, and CEEK Coin Commentary
For CHZ Coin, we must accept that the positive performance potential of the first two quarters has essentially evaporated. The move towards $0.034 has started, and deeper dips below $0.03 with a possible recovery rally scenario are possible. Meanwhile, reports from Pakistan at the time of writing indicate missile launches from three locations, signaling potential increased tension with India, which is bad news for the coming hours.
The monthly close didn’t occur above $0.2, cancelling analysts’ stories targeting a $1 surge. Now, DOGE sales may continue downwards to $0.136.
For over two years, CEEK Coin was expressed to be on the hunt for a new ATL. When market sentiments improve, double-digit gains with wicks above $0.0196 may be observed, but under current conditions, progress towards $0.015 may continue. Further detailed long-term assessments can be accessed by searching for CEEK Coin.
