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The cumulative value of cryptocurrencies has once again surpassed the $1.4 trillion threshold, with a total volume nearing $50 billion. Due to Thanksgiving, the volume may remain weak until Monday, indicating that the markets could move sideways unless there is a surprise buying frenzy. So, what are the expectations for AVAX, LUNA, and CEEK Coin?
Future of AVAX Coin
The JP Morgan news was exciting, but investors are expecting significant volatility in the markets. This rise could either be the last dip before the rally or the beginning of a real parabolic rally. Investors have two options: either take risks or wait on the sidelines and observe what happens. The weakness in volumes indicates that investors are inclined to reduce risk, especially in altcoins.
Currently, AVAX price finds buyers at $20.8, and the decrease in risk appetite this week has resulted in a reversal from $23.3. If the price fails to reclaim this zone, it could drop to $19.7 and $15.5.
LUNA Coin Analysis
The price has rebounded from $0.55, and speculative LUNA Coin investors are targeting new highs with closings above $0.66. If the price experiences a V-shaped recovery after the recent high, or if investors buy into this expectation, a new attack towards $0.78 may be seen. LUNA Coin will continue to remain an useless token in the long term, but the ongoing interest is not surprising, given that many useless tokens find buyers today.
In the bearish scenario, closings below $0.55 could open the door to $0.49 and new all-time low levels.
CEEK Coin Analysis
On November 21, the price broke through the support of the parallel channel and is now struggling to close above it again. We previously mentioned that the rise could continue to be hindered in this channel. Although the price has surpassed the upper trendline of the channel, it hasn’t been able to close above it. This reflects dominant profit-taking by short-term investors.
If the price continues to close below $0.0445, selling pressure may continue towards $0.041 and $0.035. With the decrease in hype in the Metaverse space and even SAND Coin failing to attract sufficient demand, tokens like CEEK Coin are less likely to shine.