Cryptocurrency Market Faces Fluctuations

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jun 27 2024

SOL+0.241%

CHZ-1.957%

BTC+2.162%

Should l Buy SOL?

Cryptocurrency Market Fluctuations:
- Bitcoin price at $60,800 with fluctuations; altcoins turning red.
- Predictions for Solana, Chiliz, and CEEK Coin discussed.
Solana Price Prediction:
- SOL Coin trading at $136 with a 1.27% drop.
- Possible targets at $141 and $158 in a positive scenario.
- Downward targets if support is lost: $107 and $98 levels.
Chiliz (CHZ) Price Prediction:
- CHZ Coin turned downwards due to BTC's losses.
- Potential testing of $0.058 and lower dips.
- Need to protect the $0.071 level to prevent further sales intensification.
CEEK Coin Chart Analysis:
- CEEK Coin close to all-time low at $0.036.
- Possibility of new all-time low if BTC does not recover.
- $0.03 could be an attractive point if BTC remains low.

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Technical Analysis for SOL

Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Solana (SOL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	15.921	41.711	67.271	93.061	118.621	144.411	169.971
Fibonacci	41.711	61.326	73.445	93.061	112.676	124.795	144.411

About SOL

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.To learn more about this project, check out our deep dive of Solana.The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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