The worst days for cryptocurrencies arebehind,and the market has rebounded since the November2022crash.Despite the upwardtrend,the market experiences periodicdeclines,contrasting with temporaryrises.Investors are keenly observing key levels forCHZ,AVAX,and LINK coins at thisjuncture.
Points
- CryptocurrencymarketreboundedsinceNovember2022crash.
- Periodicdeclinescontrastwithtemporaryrises.
- KeylevelsforCHZ,AVAX,andLINKarecrucialforinvestors.
IsChiliz（CHZ）CoinattheBottom?
CHZCoin’sprice is approaching the lower end of its tradingchannel,holding onto the middle supportarea.The$0.065interim support remainsintact,but the significant bottom level is at$0.059.Should the price continue todrop,it may rebound from thispoint.Bitcoin’srecent performance has moderated thedecline,but losing channel support could lead to a fall towards$0.053.A potential reversal could target the middle area at$0.071.
HowIsAvalanche（AVAX）Performing?
Avalanche（AVAX）has faced its challenges but shows potential signs ofrecovery.As markets rise when the DXYweakens,crypto can divergenegatively.AVAX lost its parallel channel support at$31.6but has not yet erased all its gains from lastDecember.A new test at$22.3ispossible,with$24.5holding itcurrently.
Chainlink（LINK）CoinCommentary
Recovering from$12.6support,LINK Coin is now hovering around the$13mark.Despite downturnperiods,LINK remains a promising cryptocurrency due to its initiatives in the RWAsector,attracting dedicatedinvestors.The next possible test point lies at the parallel channel support of$12.If it dips below thissupport,$10.7will serve as the main supportlevel,potentially forming a long lower wick during thedecline.
KeyInsightsforInvestors
- CHZcouldreboundfromthe$0.059levelifitcontinuestofall.
- AVAX’sperformanceisheavilyinfluencedbyitsinflationrateandcommunitystrength.
- LINK’snexttestpointisat$12support,with$10.7asthemainsupportlevelifitdipsfurther.
Inconclusion,while the cryptocurrency market has shown resilience and recovery since the significant crash in November2022,investors must remain vigilant of periodic declines and key support levels for major coins such asCHZ,AVAX,andLINK.