As cryptocurrency investors remain cautious amid Bitcoin price fluctuations, they are now more cautious about altcoins. Recent data suggest that the Fed's tightening may last longer than expected. So what are the medium-term goals for SOL, CHZ and CEEK Coin? What levels can be reached in the coming weeks?
(SOL) analysis
The economic and political landscape on a global scale is becoming increasingly complex. Rising energy prices lead to fluctuations in inflation, which can further increase costs. Such a scenario could mean that the central bank will step up tightening for a longer period of time. Risk markets are certainly not happy with this situation. The dollar index climbed to 106.5 after a brief decline. This indicates that areas 108 and 110 are once again dangerous targets.
Solana (SOL) bulls could no longer resist and we saw the price drop below $22. The rally in early October began at $21. If the closing price falls below this level, it may fall to $20.2 and $19. The range below $21 is not promising in the medium term.
If the fall continues from $19, the next targets will be $17.5 and $15.8.
Chiliz (CHZ) Currency Analysis
CHZ fell below $0.056 again. There isn't much in the fan token space that can spark demand. Positive disagreements usually occur at the end of the league season and during cup competitions. At this stage, we may see the price of CHZ Coin fall further. On the daily chart, unless it returns to $0.056, a new low may occur.
The weekly chart looks less promising below $0.05. The rally that began in the first quarter of 2021 found support here. In the lower range, levels of $0.026 and $0.018 may occur during oversold. If this happens, all the gains of the last cow will be completely wiped out.
CEEK coin analysis
We've been saying for a long time that we could see a pull-up/sell-off movement for weaker coins due to a drop in trading volume. Speculative traders are keen on altcoins. Obviously, it's time for CEEK coins. The price rose to $0.043, last appearing in late August. However, it is back to the level of three days ago.
If the closing price is above $0.035, the $0.04 area may be targeted again. However, the medium-term outlook suggests that new all-time lows will close below $0.044. For deeper lows, bears will try to pull the price below $0.033. Then, new support may form between $0.03 and $0.025.