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The period of low volatility in the cryptocurrency markets is over, and upcoming developments are expected to increase volatility. Investors are hopeful that a major breakthrough will begin in an upward direction. After the recent drop, BTC has largely held the $26,000 level, indicating that the excessive selling pressure may be over. So, what price levels can we expect for CEEK and AVAX Coin in both scenarios?
AVAX Coin Future Analysis
The key focus of this month has been the massive unlock event for AVAX. Many investors have learned that this was the reason behind the significant drop. Being prepared for such developments in bear markets can help reduce your risk. For those who were aware of the unlock event worth hundreds of millions of dollars, the recent drop was not a surprise. But is the drop really over?
Whether the drop has ended or not largely depends on BTC’s performance. Powell, who will give a speech at Jackson Hole tomorrow at 17:05, is expected to provide important medium and long-term signals. Even though he hasn’t been successful in his 2021 predictions, the Fed chairman’s statements are likely to increase volatility.
As for the price of AVAX Coin, it is important for the short-term future that the price holds the $10 support level. The altcoin, which dropped to $9.7 two days ago, has formed a long lower wick. It needs to maintain support between $9.88 and $10. If a recovery is to begin, we should see four-hour closes above $10.48. The price could then target $12.5 with a V-shaped recovery.
If the downtrend continues, bulls will try to establish new support levels at $8 and $6. What does it signify for AVAX Coin and many other altcoins to form new all-time lows? We’ll see that soon.
CEEK Coin Future Analysis
Those who remember our previous CEEK Coin price prediction know that the price broke the bottom trendline in a narrow range. This is not good news for CEEK investors, and deeper all-time lows are possible. In the short term, we need to see closes above $0.0446 for a potential recovery.
If the critical level is reclaimed, the $0.051 threshold could be retested. However, unless there is strong optimism in the market sentiment, most investors have little reason to buy CEEK Coin. The price of CEEK Coin is currently down approximately 97.3% from its peak, and the risk of deeper lows remains.
