Crypto space rose notably in the recent past due to which the global market capitalization has soared beyond $1.08 trillion. However, since then the prices of the top cryptos remain consolidated and are stuck up within minor regions indicating the prevailing accumulation phase. Meanwhile, Cardano (ADA) & Fantom (FTM) prices have undergone a notable rally which is believed to spark a fresh rally soon.
A popular crypto analyst, Micheal van de Poppe sets down the possible trend for the coming week.
Cardano (ADA)
Cardano’s price is surging high since the beginning of the year 2023 and spiked more than 70% from its bottom. However, after surging beyond the first target at $0.38, the price is facing some hindrances to surging beyond the next & pivotal target at $0.416. However, RSI is displaying a minor bearish divergence that may hinder the rally in the coming days.
“Didn’t see any strength as of yet.
I’d be looking at a case where I’d want to look for longs around $0.35 if a correction occurs or the area at $0.42 flips for support,”
Fantom (FTM)
After registering nearly 4 consecutive bullish green candles, the Fantom price is experiencing a minor drain since the early trading hours. The price slash appears to be a minor one and hence the bullish momentum is believed to continue for a long as the bulls are defending the lower support at $0.61. Presently, the price seems to be undergoing a notable price squeeze that may offer a catapult action to rise high soon.
“Higher timeframe resistance approaching here as it’s closing the gap.
If there’s a dip, I’d be interested around $0.50 on this one,”
Collectively, the altcoins are gearing up as they appear to be hovering around crucial levels. Also, the market cap is testing pivotal resistance which flashes the possibility of the beginning of an Altseason very soon.
Source: https://coinpedia.org/price-analysis/cardano-fantom-prices-explode-will-the-bullish-momentum-continue-into-the-next-week/