While the bearish movement continues in BTC, many scenarios are put forward about whether we are approaching the “bottom” point.
While one group of analysts expresses a bearish opinion, another group argues that an upward rally will begin in mid-July.
While experts are divided on the direction of cryptos, we see that some altcoins are positively separated from the market.
One of the first projects that come to mind when it comes to Metaverse coins. CEEKcontinues to make a name for itself with its recent performance.
CEEK, which experienced a rise of approximately 200% after bottoming out on June 13, has left its mark on today as well. It attracts attention with its 15% rise during the day. CEEK It was also on the agenda on social media.
What Does Technical Analysis Show?
Looking at the 4-hour chart, we see that we are in an important uptrend. In particular, the blue trend line can be followed as support in this context.
As a resistance, the most important level is currently $0.28. This level seems to have worked as support many times before and triggered a 60 percent drop when it was broken.
Now, $0.28, which acts as a resistance, could trigger bigger rallies if it is broken. In particular, investors can take a buy-side position by writing a stop after the breakout confirmation of this level.
Those who currently hold CEEK, on the other hand, may prefer to stop below the deeper level of $0.19, by closing the candle below the blue support resistance.
*Not investment advice.