BTC Hits $60,000 Again

The cryptocurrency market is navigating a period of considerable fluctuation as LUNA, Solana (SOL), and Chiliz (CHZ) brace for volatile days ahead. BTC’s attempt to breach the $60,000 mark for the second time this week was met with insufficient buying strength, causing a rapid price retreat to $57,000. This movement follows recent inflation data and raises questions about the near-term expectations for altcoins.

LUNA Coin remains below its parallel channel support at $0.548, seeking to establish new support around $0.373. A potential bounce from this level could lead to a test of $0.440. To reverse the downward trend initiated in early June, LUNA must reclaim higher supports and re-enter the channel at $0.548. However, BTC’s current price level near $57,500 suggests that deeper corrections could be on the horizon.

Solana (SOL) has not re-entered its parallel channel, partly due to the influence of recent ETF news, yet it continues its upward momentum. The price, which found support at $137, struggled to hold above $143. Successfully doing so could extend the rally to $154 and $162. However, if SOL falls below $122, it may target $112 and $98.

Insights for Traders

•LUNA needs to surpass $0.548 to stabilize.

•SOL’s price could surge with ETF approvals.

•CHZ struggles to break past $0.07 but aims for $0.084.

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