The global crypto market took a pause after rallying continuously for 2 days. At present, the crypto-market cap is US$2.14 Trillion but major cryptocurrencies are marginally down. Major digital tokens traded on a lackluster note in Wednesday’s session, with Bitcoin holding ground just below its highest this year, touched a day earlier.
Major altcoins showed some mixed signs as XRP, Dogecoin, Avalanche, and Shiba Inu dropped up to 2 percent. On the other hand, Terra rallied 4 percent. Solana, Ethereum, and stable coins also showed a positive trend.
Michael van de Poppe, a well-known crypto analyst, and trader examine the prospects for Fantom (FTM), and two other altcoins in his latest tweet.
Fantom (FTM )
Top 100 ETH wallet holders are showing huge interest in Fantom (FTM). The altcoin also secured its position in the top 10 crypto assets by the whales. With this, FTM Price surged to the $1.45 level on Tuesday. However, the bulls failed to remain intact and the FTM/USD price dropped with marginal correction. The altcoin is currently trading at $1.43.
However, the price has now rebounded and heading towards the $1.5 level. On the flip side, the support level of $1.0 seems important for buyers near this level, and buyers look aggressive near this level.
According to crypto analyst poppe, the $1.5 resistance level remains crucial for FTM/USD as
“This one is showing strength now too after sweeping the lows for liquidity. Looking to see whether we can chase the resistance at $1.50 and that’s going to be a heavy one. Until then we can have some momentum upwards.”
RUNE/USDT price is moving aggressively and reached a critical resistance, but bulls looking in strong power they are trying hard to break that level. If they do so then a new horizon will be there for RUNE. At the time of writing RUNE Price is trading at $12.34 with 3% gains.
However, there is an ending diagonal expansion pattern formed, currently, the support is at $10.300 if holds will drive the trend to another higher and the resistance is around $12.900 – $13.00
However, if bears kick in, maybe opening a sell position below 10$ and riding till the H4 channel support may be a good idea.
The analyst also sees potential gains on the horizon for RUNE, the native asset for decentralized exchange protocol THORChain. RUNE Price is beginning to show some strength and a minor correction should lead to more upward momentum.
“This one is continuing to show strength. Minimal correction should lead towards further upwards momentum as it’s currently fighting resistance. Looking at $9.30 to hold. If we break upwards, then $13-14 might be possible.”
VRA price is currently trading at $0.027 with more than 5% loss. However, we can see a push as high as 0.03 if $BTC does push higher before a corrective move. Also, the altcoin is showing a falling wedge and will hit $0.035
According to Poppe, for Verasity (VRA), if the market continues to be calm, he expects to see a continuation towards $0.04.
“Strong move here, after holding higher timeframe support. Quite similar to the other altcoins here. Expecting to see continuation towards $0.04 if the market remains calm.”