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July 18, 2024
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Altcoins Gaining Strength: FTM & TRX Prices Fighting the Bearish Heat: Here’s What to Expect

The post Altcoins Gaining Strength: FTM & TRX Prices Fighting the Bearish Heat: Here’s What to Expect appeared first on Coinpedia Fintech News

Bitcoin price appears to be in ‘Dire-Straits’ while some of the altcoins like Fantom & Tron are gaining strength. Ever since the Ethereum price displayed strength, the altcoins have turned out to be poised to achieve fresh highs in the later part of the year. 

Tron (TRX) Price Analysis

The March pullback heavily dragged the TRX price by over 25%, marking the lows at $0.104 but defending the support at $0.1. After rebounding from the bottoms, the price has been maintaining a healthy ascending consolidation but has remained stuck at $0.11 for nearly a couple of weeks. However, the token is hovering within a crucial range and hence a slight rise in buying pressure may begin a fresh bullish spell. 

The TRX price has been forming constantly lower lows and highs as the bearish strength continues to swell. However, the Bulls have offered strong contention as the levels remain elevated regardless of the bearish heat. The token remains stuck along the 0.23 FIB levels and is trying hard to surpass the 200-day MA, which is serving as a strong resistance. As the RSI has maintained a strong ascending trend, the likelihood of the price breaching the trend line and reaching 0.38 FIB at $0.122 is imminent. 

Fantom (FTM) Price Analysis

After losing more than 40% of its value in the past 30 days, the FTM price has triggered a healthy rebound and trying to stabilise a strong ascending trend. The buying volume has risen to some extent, which has uplifted the volatility of the token. As a result, the price appears to be poised to set up a 25% upswing to mark its presence within one of the important resistance zones. 

The FTM price rebounded from the support of the rising, expanding channel and is expected to maintain a rising trend for the next few days. The RSI initiated a rebound while the MACD is about to undergo a bullish crossover and a sustained upswing may lift the levels to the positive range. This could be when the Fantom (FTM) price is believed to maintain a healthy upswing to reach the resistance zone between $0.732 and $0.76, while the $1 milestone remains distinct. 

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