Following a recent downturn in Bitcoin‘s value, altcoin investors are beginning to recover from notable losses. While 2024 has shown a generally positive trend for altcoins, the market has yet to experience substantial rallies comparable to previous cycles. Current forecasts are particularly focused on coins such as Chiliz (CHZ), Terra (LUNA), and FLOKI, which are expected to garner investor interest in the near future.
What is the Future for Chiliz (CHZ)?
Bitcoin recently peaked at $99,000 but has since adjusted to around $98,500. For altcoins to regain their upward momentum, it is crucial for Bitcoin to maintain closing prices above this threshold. Many cryptocurrencies are nearing resistance levels, with Bitcoin likely to provide important signals regarding annual closing trends.
Can LUNA and FLOKI Coins Surge Higher?
Chiliz (CHZ) is poised for better performance early in the year, driven by rising enthusiasm for fan tokens linked to league finals and cup contests. Following a recent support test at $0.0853, CHZ’s price is now aimed at a range between $0.0985 and $0.1166, contingent on Bitcoin’s performance. A recovery above $0.131 could redirect focus to a target of $0.1670, with potential shifts towards $0.30 after breaching annual highs.
LUNA has started its recovery from lows of $0.395, setting its sights on resistance levels at $0.469 and possibly $0.5483 and $0.693. However, long-term risks remain due to ongoing issues involving its founder. Despite the fluctuations, FLOKI Coin has consistently held support at $0.00010016 this year, with sustained closures above $0.0001653 indicating a growing desire for upward movement.
- CHZ shows potential growth with fan token interest.
- LUNA aims for a resistance level of $0.469, facing long-term risks.
- FLOKI Coin maintains support and seeks higher targets as market conditions improve.
As altcoins like CHZ, LUNA, and FLOKI navigate their price movements, the continued performance of Bitcoin will play a crucial role in shaping market trends. Observing these developments provides insights into the evolving dynamics of the cryptocurrency landscape.
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.
