Bitcoin is standing strong above $21,200, effectively withstanding all the bearish pressure over the past few days. The bulls seem to be currently accumulating strength for the next price action which may uplift the price close to $25,000. In the meantime, some of the altcoins are gaining huge exposure to the bullish momentum and are believed to display better price movements than Bitcoin.
A popular analyst Micheal van de Poppe, pens down the upcoming trend for 3 popular altcoins: Near Protocol (NEAR), Fantom (FTM), and Gala (GALA, and believes the assets could provide a fair entry point very soon.
Near Protocol (NEAR)
Near protocol’s recent upswing appears intended for a parabolic recovery that would have ended after reaching levels close to $3. However, the bears managed to reclaim their dominance and dragged the price from $2.38 to the current level of around $2.12.
The analyst here foresees a chance of an upswing but only if the price marks the lows. Besides the bearish narrative may be slashed if the price rises beyond $2.4, rebounding from the current consolidation.
“Watching $1.90 region for potential entries, not interested at this stage unless higher levels are reclaimed,”
Gala (GALA)
Gala, like many other tokens within the crypto space, ended the previous yearly trade on a bearish note. The price traded flat after plunging hard in the first week of November which was later flipped by the bullish market sentiments. Despite the minor bearish market sentiments, the price remained inflated indicating impending bullish market sentiments fast approaching.
The analyst here believes that the bull run could be over and that the price could be preparing for a significant compression.
“ Theoretically speaking, run might be over
If not, then you don’t want to see that $0.046 gets lost.
If it does, bounce play region around $0.0425,”
Fantom (FTM)
The Fantom price has maintained significant strength compared to the other altcoins mentioned above. The price that began with a firm upswing since the beginning of 2023, uplifted the price close to $0.35. Meanwhile, the rejection could not impact the price to a large extent as the token is consolidating around the gained levels despite the prevailing bearish actions.
The analyst believes the FTM bulls may soon get exhausted resulting in a notable price slash.
“Not interested into longs here, would be interested when we get towards the $0.29 or $0.26 regions and then play continuation,”
Source: https://coinpedia.org/price-analysis/altcoins-for-the-day-near-protocol-near-fantom-ftm-gala-gala-may-offer-a-good-entry-soon/