In the cryptocurrency market, prolonged stagnant movements have created a dull environment for traders. With SPX and Gold breaking new all-time records, the lack of movement in cryptocurrencies since the brief peaks seen after the ETF approval in January is notable. Bitcoin (BTC) $96,086 has remained below $70,000 for months, and some altcoins have even dipped below last year’s lows. What are the forecasts for Chiliz, Solana
$170, and CEEK Coin?
Solana (SOL)
The Solana network is showing strong activity and total value locked (TVL), competing effectively with Ethereum in various metrics. While Ethereum (ETH) $2,704 has been hovering around $2,500 for an extended period, SOL Coin has made significant gains since last year. As of the time of this writing, Solana (SOL) is trading around $168.
It has successfully maintained the support level at $162 this month, converting resistance into support. However, further movement is necessary as SOL Coin needs to turn the tough obstacles at $174 and $188 into support before targeting a new attempt towards $210.
Chiliz (CHZ)
For CHZ Coin, maintaining the support level of $0.07 is crucial. If this level holds firm, traders could aim for the parallel channel resistance again. However, as the writing indicates a drop below this critical area, we may see tests of channel support at $0.0593 in case of continued selling.
Below this, excessive selling could lead to a test of the bottom support at $0.0475. Short-term buyers can consider opportunities between $0.07 and the channel’s lowest point, as CHZ has oscillated within the channel for an extended period, potentially offering double-digit gains.
CEEK Coin Commentary
There are no significant changes for CEEK Coin, which targets the ATL point at $0.025 while currently maintaining support at $0.029. Given its long-term risk profile, speculative rallies could provide selling opportunities at $0.033 and $0.039. The $0.055 mark may act as a point where larger upper wicks could visit.