Bitcoin Price Struggles to Break $60,500; Impact on LUNA, Solana, and CHZ Coins Explained

  • Bitcoin’s value hovers just below the $60,000 mark, with current pricing at $59,950.
  • Despite a halt in altcoin declines, Bitcoin’s struggle to exceed $60,500 leaves investors cautious.
  • Experts are watching for potential price movements in LUNA, SOL, and CHZ coins, contingent on Bitcoin’s performance.

Explore the potential shifts in major cryptocurrencies as Bitcoin flirts with the $60,000 threshold. Stay updated on what this could mean for LUNA, SOL, and CHZ.

LUNA Coin’s Upcoming Battle: What to Expect

LUNA Coin recently plunged to $0.294 on July 5 amidst heavy sell-offs, but it has established support above $0.35 since then. After a 54% loss over a 28-day period, LUNA needs to climb back to $0.4 and $0.43 to initiate a recovery. Achieving support at $0.54 could signal a substantial upswing, potentially targeting a new peak of $0.8. Investors should watch these crucial price levels closely for potential recovery signals.

Will Solana Coin Break New Highs?

Solana’s price held relatively steady due to positive ETF news, despite applications from VanEck and 21Shares. Should SOL maintain stable closures above $125, it might edge toward $150. Bitcoin’s performance in the same timeframe is critical—success could see Solana turn $162 into a supportive level, consolidate around $188, and possibly breach $205, eyeing an eventual target of $256 and beyond. Monitoring Bitcoin’s strength will be essential for SOL investors.

CHZ Coin’s Trajectory

CHZ Coin is trending in a positive direction within its parallel channel, backed by closures above $0.063. Bitcoin’s upward move could push CHZ to the channel resistance of $0.085, with subsequent targets of $0.0953. For a significant leap towards $0.3, CHZ must reclaim the $0.106 and $0.14 thresholds. Investors are optimistic about a rise in tandem with the opening of Asian markets, keeping a close eye on these key levels for actionable insights.

Conclusion

In summary, the cryptocurrency market stands at a critical juncture with Bitcoin around $60,000. LUNA’s recovery hinges on overcoming $0.4, Solana’s potential growth requires stability above $125, and CHZ’s prospects depend on Bitcoin’s momentum. Investors remain cautious yet hopeful, awaiting further developments to inform their strategies as the market evolves.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

75,000 Ethereum (ETH) Withdrawn From Kraken to Multiple Chains — $3.23B Transfer Sends 30K to Ethereum Mainnet, 30K to Arbitrum

According to Onchain lens monitoring, five newly created wallet...

$ART listed on Bybit spot

$ART listed on Bybit spot

TOKENIZED SECURITIES MAY TRADE ON NASDAQ WITH SAME PRIORITY AS TRADITIONAL ONES IF CONDITIONS MET: RTRS

TOKENIZED SECURITIES MAY TRADE ON NASDAQ WITH SAME PRIORITY...

BitMine Holds 2,069,443 ETH — World’s Largest Ethereum Treasury Pushes Crypto Assets Over $9.211B

According to official sources, BitMine reported its total cryptocurrency...

MYXUSDT Short Liquidated for $4.78M on Bybit at $7.57 — Biggest Crypto Liquidation in 24 Hours

COINOTAG News on September 8 cites Coinglass data showing...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img