Critical Warning to Investors: Is Bitcoin (BTC) Preparing for a New Drop?

Very few people believed that the price of Bitcoin would be above $34,500 today, 15 days ago. However, BTC achieved this. We have also seen some significant increases in some of the top 50 cryptocurrencies. SOL Coin was one of them. So what are the expectations for AVAX, SOL, and Chiliz, which are among the favorites of altcoin investors?

SOL Coin Reviews

In the CoinShares report that came this week, institutional interest in SOL Coin was over $10 million. The net inflow exceeded $70 million annually. While the ETPs of other altcoins are not receiving as much attention, the continuous demand for SOL Coin is remarkable.

Moreover, its growth above the general market average also shows that institutions have made the right choice. As for the price, the $27 resistance level, which was difficult to overcome, was surpassed this time because BTC has been increasing at an abnormal pace. SOL Coin is now at the $33 boundary.

It would not be surprising if it extends the rally to the $37 resistance area very quickly. However, BTC’s performance is also important here. As the possibility of the world being more preoccupied with further wars increases while US stock markets decline, SOL Coin, which has surpassed its July peak, could visit the $37 and, if successful, the $48 resistance area. The $37.6 region is critical, as it is an important area on the weekly chart both as support and resistance. Bulls will aim for an accelerated rally on a daily close above this level.

AVAX Coin Chart Review

Even Stars Arena boosted AVAX. The popular Ethereum competitor, which will have an annual inflation rate of up to 40%, could not exceed $10.8. At the time of writing, it is at $10.4. AVAX investors have been unhappy for a few days because they missed the BTC rally. If the price can exceed $12.4, targets of $14.3 and $18 could come into play. For now, AVAX stands out among altcoins that have not priced in the latest BTC rally.

Chiliz (CHZ) Coin Review

The popular fan token has returned to the parallel channel and is in the middle area. If CHZ Coin can close above $0.07, we could see $0.075 and $0.081. One of the altcoins that did not benefit enough from the BTC price increase is CHZ Coin.

However, maintaining $0.065 is positive. The last attempt at a rise in the weeks of September 25 and October 2 on the weekly chart is still ongoing. If we see a weekly close above the $0.067-68 level, surpassing $0.085 with FOMO triggers massive gains.

Disclaimer: The information provided 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 before making transactions.

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