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As we conclude this week, we find ourselves approaching the end of the first quarter for cryptocurrencies. This period has presented a unique phase, showcasing that historical data does not always repeat itself. Altcoins that displayed weak performance throughout the first quarter have faced extreme sell-offs influenced by macro developments. With the second quarter on the horizon, what predictions can we make for SOL, SHIB, Pi Coin, and Chiliz?
Chiliz (CHZ) Coin Analysis
As the league season nears its end in the first two quarters, fan tokens typically experience volatility. However, macro pressures have led to an unexpected scenario for CHZ, the leader in the fan token ecosystem. After several upward attempts, this popular altcoin has succumbed to bearish trends, approaching last year’s lows.
The price hit a low of $0.038 due to excessive selling, and it is now fighting to reclaim the support level at $0.0473. If this support can be regained in the coming days, we may witness a recovery in BTC prices, resulting in increased risk appetite. Should the $0.057 to $0.06 range be reclaimed, further targets of $0.07 and $0.084 will come into play.
What Lies Ahead for Pi Coin?
Pi Coin entered the market with a high valuation and uncertainty surrounding its circulating supply. Investors recognizing the inflated nature of prices above $2 justifiably sought short opportunities, although many were initially mistaken. Those who accurately navigated the $3 local peak have garnered substantial profits from short-selling this month. It is predicted that the price could dip to $0.68, with many experts forecasting values below $0.50 in the long run.
Insights on SHIB and Solana
Solana 
$128 (SOL) has returned to levels not seen in 195 days. While it experienced positive momentum due to support, the influx of numerous worthless tokens on the network led to protest sell-offs, driving the price down to $112. Despite having a strong community, Solana needs to convert the critical resistance at $138 into support to gain upward momentum.
Subsequently, the $158 and $188 regions may become relevant.
Many cryptocurrencies exhibit trends similar to those seen in Shiba Coin. Although a bottom may seem to have formed, BTC will dictate future movements. Depending on whether BTC experiences a break at $96,000 or $75,000, SHIB will attempt to reclaim the $0.0000162 level, which could be observed with BTC closing above $86,000.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
