Bitcoin’s troubled process is affecting the altcoin market the most. The main reason for this is the attractive buying opportunities or the chance to avoid significant losses for investors with the decline in Bitcoin. The fact that many leading projects in the market have now come to the brink of bankruptcy is a frustrating situation for both investors and market participants.
LUNC Graph Analysis
Luna continues to experience a painful situation, especially for LUNC, as no steps are taken to revive the ecosystem. If sustainability is achieved above the EMA 200 average in the last bar of the chart, it will be easier for the price to rise.
The support levels to be considered for LUNC are respectively; $0.00005996 / $0.00005858 and $0.00005663. In particular, a further decline below the $0.00005663 level can cause significant value losses for LUNC.
The resistance levels to be considered in the daily chart are respectively; $0.00006226 / $0.00006408 and $0.00006568. In particular, a daily close above the $0.00006408 level can almost overcome a month-long resistance and accelerate the price movement.
CHILIZ Graph Analysis
Chiliz, which has made a memorable breakthrough in 2021, is not going well. Chiliz, known for its fan token infrastructure service and expected to make a mark with its Layer-2 network service offered this summer, is experiencing one of the worst periods in recent times. The formation of a flag formation has caused many inexperienced investors to suffer significant losses since the beginning of July.
The support levels to be followed for Chiliz are respectively; $0.0568 / $0.0547 and $0.0521. In particular, a downward breakthrough below the $0.0547 level can cause significant damage to the Chiliz price. For Chiliz, which has not made any closing below this level in recent years, a serious problem may occur below these levels.
The resistance levels that need to be closely monitored are respectively; $0.0604 / $0.0651 and $0.0694. Overcoming the $0.0604 level can end the resistance function of EMA 7 and EMA 21 levels and break the downward resistance line, although I did not mention it.
