As Bitcoin’s price targets $58,000, altcoins generally remain positive. Particularly, SOL, CHZ, and CEEK Coin have shown movements with BTC’s recent recovery. What are the current predictions for these altcoins?
Solana (SOL)
In 2021, the total locked value in Solana’s network had reached the $10 billion mark. Following the FTX collapse, it fell to as low as $260 million. As the price rebounded from $8.5, the TVL also increased, surpassing $5.6 billion before retreating to around $4.8 billion. While volume dropped to $400 million in August, it has anchored above $700 million for a few days. However, it remains weak compared to the last rise period. We had mentioned that the price of **SOL Coin** could drop to $122 before the decline deepened; now, it has rebounded from $121 and lingers around $136. If it can sustain above $138, we might see the price return to the $150 and $162 range. However, in a reverse scenario, new lows up to $110 are possible since BTC has yet to reclaim $60,000.
Chiliz (CHZ)
After hitting the bottom at $0.0467 once again, **CHZ Coin** is now trying to turn $0.0516 into support. The price has eroded by 67% over the 104-day falling period. Although [investors](https://finance.coin-turk.com/) were insistent on a comeback between March and June, BTC’s volatility accelerated the losses from June onwards. Now, for CHZ Coin to return to the $0.1 levels, it needs to reclaim the parallel channel support at $0.0593. If it can achieve this, $0.07 and $0.0853 could be reclaimed.
CEEK Coin Commentary
Years ago, when it was announced that [metaverse](https://en.coin-turk.com/apples-new-product-could-benefit-these-metaverse-tokens/) lands would be sold in stablecoin types instead of **CEEK Coin**, we saw investors hasten their CEEK Coin sales. At that time, we wrote that this investor reaction could lead to bigger problems in the altcoin. Subsequently, as interest in the metaverse also significantly weakened, **CEEK Coin** fell further. The altcoin, which saw its all-time low price and fell even further, could show potential for a comeback if it convincingly reclaims $0.0398. Otherwise, new lows could be seen.
Bitcoin’s target of $58,000 positively influences the altcoin market. The current performance of SOL, CHZ, and CEEK indicates potential for recovery, but risks of further decline exist in adverse scenarios.
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