The Real Reason Behind China’s Crypto Bans: What Do Current Data and Trends Tell Us?

This week, we have seen surprising gains in the price of BTC, with many cryptocurrencies gaining over 30%. Mina Coin, in particular, saw an increase of over 130% with its magnificent listing timing. But what’s next for CEEK and LUNA Coin investors? What do the latest data tell us?

CEEK Coin Reviews

Before the start of the BTC price rally, CEEK Coin was looking for new yearly lows. So what’s the current situation? At the time of writing, the price is at $0.041. The BTC rally opened the door to testing $0.047, but there is nothing more for now. Although those who were bold in the dip zone found selling opportunities at resistance, closes above $0.04 could lead to new highs.

A weekly close above $0.42 will be the first reversal signal, and if BTC allows, it could turn into support at $0.046. Then, resistance levels at $0.052 and $0.054 will be monitored. Those looking for a clear reversal and parabolic rise from the bottom will wait for a significant break above $0.065.

However, we should be aware that CEEK Coin is weak in many aspects. Even leading metaverse altcoins like SAND and MANA Coin have failed to outperform the overall market performance. Moreover, CEEK Coin is lagging behind in terms of technology, adoption, community, and many other aspects. And it seems like metaverse is not a concern for many these days.

LUNA Coin Chart Analysis

Someone should warn LUNA Coin about the start of the BTC rally. The price did not experience a speculative rise worthy of its price history this week. Perhaps investors have been triggered by speculative rallies in better altcoins? The incoming CEO, who replaced Do Kwon, could not pull a rabbit out of the hat. Reviving a completely burnt factory is difficult, so hopes for the Terra ecosystem are diminishing day by day.

Still, a speculative rise can be seen at a point where liquidity is weak in order books. This could be an escape opportunity for LUNA Coin investors. We have already discussed in detail that LUNA may not achieve much success in the long run.

Disclaimer: The information in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research before making any transactions.

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