Altcoin investors have shown interest in these three cryptocurrencies due to the potential for high profits. Especially Solana (SOL), after FTX’s collapse around this time last year, managed to recover rapidly. The price of LUNA Coin has also surpassed $1 after a long period of time. So, how much can these three be worth by the end of December?
Solana (SOL) Analysis
The price dropping to $8.5 and the fear of it going to zero still feels like yesterday. The recovery, which started with Vitalik Buterin’s tweet “Solana has freed itself from the moneybags” reached up to $70. However, SOL Coin is currently experiencing a pullback. We can also see the impact of the BTC rally on altcoins in general.
While BTC’s price rapidly increases, altcoins follow behind and rallies begin with the leaders of positive divergence when the consolidation phase is reached. For now, as BTC seeks its peak, altcoins are eyeing supports.
At the time of writing, SOL Coin finds buyers at $60 and moves away from the peak of over $68 in the second week of November. It is important that $58.4 is maintained, but we need to see prices above $65 in daily candle closes. Otherwise, a new low between $54 and $51 could be experienced. In the opposite scenario, three-digit prices can be targeted with closings above $68.
LUNA Coin Analysis
The price being above $1.14 increases hopes for a reversal. We previously mentioned that Terra acquired a crypto company without disclosing the price. While the new CEO tries to convey the message that they are standing strong, speculative movements also support it. We have already made many evaluations regarding long-term expectations. In the short term, technically, daily closes in the current range can target $1.44 and $1.65.
It seems difficult to surpass the $2-3 peaks because it is very challenging for Terra to rise from its ashes, especially with so many competitors. In the opposite scenario, closings below $0.94 could open the door to $0.5 again.
CEEK Coin Analysis
We have been talking about the parallel channel for CEEK Coin since July, and the upper boundary line has not been surpassed for more rallies. This is because the hype in the metaverse sector has slowed down, and CEEK Coin cannot promise as big things as before. The lack of interest is remarkable.
While closings above $0.055 can lead to a possible turnaround, it is likely that the price will linger in the middle area of the parallel channel for a while.