February 8, 2023
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FTM, EGLD, and MATIC To Make a Comeback Anytime Soon! Analyst Maps Next Levels

The post FTM, EGLD, and MATIC To Make a Comeback Anytime Soon! Analyst Maps Next Levels appeared first on Coinpedia Fintech News

The year 2022 is drawing to a close, and all that’s left to do is examine the charts of various cryptocurrencies in order to get an idea of how these assets will behave in the not-too-distant future. Famous analyst Michael van de Poppe picks out a few cryptos to analyze and do an analysis of, and we’re gonna be talking about those tokens.

Fantom (FTM)

Van de Poppe believes that FTM has been trading in a sideways range for the previous 12 trading days and is consistently testing new highs. He also said that the entry had been removed, therefore that was the coin flip at $0.20. Nevertheless, a move toward $0.225 and $0.235 might be triggered by breaching and recovering $0.2075-0.21, says the analyst.

Source: Michael van de Poppe

At the time of writing, one token is worth $0.203412, reflecting a decrease of 0.4% over the course of the last 24 hours but an increase of roughly 4% over the course of the previous 7 days. After falling below $0.223 at the start of last week, Fantom has shown indications of recovery, with the price recently hovering between $0.26 and $0.289.

Elrond – EGLD

The current price of EGLD is $33.98. Over the course of the last day, it has seen a price gain of 1.7%, while over the course of the last week, it has seen a price drop of 3.6%.

The Elrond bears have shown their dominance over a significant majority of the time, while EGLD investors have been left in a tangled mess as a result of this.

Michael van de Poppe says:

“I must say, I don’t have any interest in crypto like this, unless levels are getting flipped for support. In that way, regaining $39 is the first step.”

Source: Van de Poppe Twitter

Polygon (MATIC)

Van de Poppe believes that there has been a level hit on MATIC, and the analyst is predicting that following a solid recovery, we will be continuing to move toward $0.84.

Source: Michael van de Poppe

For the last several months, the price of MATIC has been moving sideways within a wide trading range that spans between $0.69 to $1.05.

It is anticipated that the bears would sell the rally up to the 20-day exponential moving average. If the price moves in the other direction from here and breaks below $0.76, the token may go all the way down to the significant support located at $0.69. 

However, if bulls are successful in driving the price over the 20-day exponential moving average, MATIC may try a rally to the $0.97 resistance level, which is located above it.

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