Cryptocurrency markets are currently experiencing a high level of volatility, with altcoins showing a decline in value. Speculation around the future price movements is happening amid several factors impacting the market. For instance, Bitcoin has dropped below $61,000, raising concerns about its ability to rebound, especially in light of the Biden administration's stance on cryptocurrencies and the increased scrutiny from the SEC on crypto-related cases.

PEPE Coin Analysis

Despite attempts by the bullish market to surpass the resistance level of $0.00000910, the price of PEPE Coin has been struggling to reach new highs. A strong resistance level set after a previous drop on March 16 is seen as a critical area for potentially achieving an all-time high.

If Bitcoin falls below $60,000 again, it may lead to new lows between $0.00000642 and $0.00000455 for PEPE Coin. The outlook suggests a further downside potential for BTC in the near term.

BONK Coin Analysis

In the Solana ecosystem, BONK Coin has stood out with notable gains since last year. Despite three attempts to break the resistance level at $0.00002948 since March 28, the price has not been successful. If the resistance is breached, targets of $0.00003677 and $0.00004262 are possible, but the current trajectory indicates a possible decline in price.

A support level at $0.00002210 is crucial for BONK Coin, and a breach could lead to further sales down to $0.00001424.

SPELL Coin Analysis

SPELL Coin, which reached a peak at $0.00178, is now retracing to earlier levels. Key support is seen at $0.000789, and breaking below it might result in sales towards $0.000608, the point where the rise began in February. The current market sentiment and lack of buyer interest suggest a more bearish movement.

On the flip side, targets of $0.00091, $0.00105, and possibly $0.00150 could be aimed for in a more positive scenario.

LUNA Coin Analysis

LUNA Coin has been moving within a parallel channel, testing the base level at $0.55 multiple times. The bulls are aiming to hold the line at $0.577 to prevent further downside corrections, which remains to be seen.

In case of a breakout above $0.67 and $0.76, the $1 level could become a target once again.

Source: COINTURK NEWS: Insights into Cryptocurrency Market Trends