Experts Named Three Altcoins To Watch This Week – Avalanche (AVAX), Fantom (FTM), Chainlink (LINK)

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Despite a recent 4% drop in Bitcoin’s value to $35K, the overall sentiment in the cryptocurrency market remains cautiously optimistic. Despite this recent dip the overall sentiment in the cryptocurrency market remains cautiously optimistic. Amidst this backdrop, Avalanche (AVAX), Fantom (FTM), and Chainlink (LINK) continue to hold their ground, while ScapesMania emerges as a new player with promising prospects.

Summary:

• ScapesMania: Emerging as a promising new player in the crypto market, ScapesMania garners attention for its innovative approach and safety focus; this positioning sets the stage for potential growth – indeed, an amplified market presence is within reach.

• Avalanche (AVAX): Demonstrating resilience and potential for growth, Avalanche (AVAX) is consolidating its position in the market, with indicators pointing towards a gradual increase in value.

• Fantom (FTM): With its unique features and expanding ecosystem, Fantom (FTM) distinguishes itself; this suggests a potential for significant growth and acknowledgement within the cryptocurrency market.

• Chainlink (LINK): Chainlink (LINK) gains traction due to its integral role in the crypto ecosystem; it demonstrates promising growth potential: strong fundamentals and escalating market interest support this trajectory.

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Backed by an award-winning developer crew, ScapesMania stands for transparency: every member’s social media profile is public. The project can achieve this not just by bringing big innovation to the game, but by putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is what makes ScapesMania the project with a bright future ahead.

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Avalanche (AVAX): Gearing Up for Growth

In the wake of Bitcoin’s recovery, Avalanche (AVAX) is at a crucial juncture. Ava Labs strategically realigns, implementing workforce optimization to underscore resilience and growth in an unpredictable market. 

Avalanche (AVAX) technical indicators show a promising trend. The 10-day Simple Moving Average (SMA) at $13.4436 surpassing the 200-day SMA at $12.3670 signals a potential momentum gain. The Relative Strength Index (RSI), hovering between 70-80%, indicates that Avalanche (AVAX) might be slightly overbought, hinting at a possible market correction. With resistance levels at $13.4297 and $13.9208 and support levels at $12.4474 and $11.9563, Avalanche (AVAX) shows a pattern of volatility but also resilience.

Avalanche (AVAX) faces two potential futures: a bullish scenario driven by sustained adoption and strategic initiatives, and a bearish scenario influenced by market downturns and operational challenges. 

Fantom (FTM): On the Verge of a Bullish Breakthrough

Fantom (FTM) recently shattered a pivotal weekly trend, indicating an intense bullish momentum. This break suggests a potential 35% gain in the near future, with Fantom (FTM) currently trading around $0.3311.

The key support level for Fantom (FTM) is at $0.2390 and it is crucial to stay above this mark for the continuation of its upward trajectory. If sustained, Fantom (FTM) could challenge the resistance at $0.3839 and potentially reach the supply zone between $0.4449 and $0.5262.

The RSI above 50 and positive trends in the Awesome Oscillator indicate a robust bullish sentiment for Fantom (FTM). However, a drop below the $0.2390 support could shift the focus to the lower range of $0.1530, highlighting the need for cautious trading strategies.

Chainlink (LINK): Connecting for Success

Chainlink (LINK) has seen a remarkable 26% rise in just six days, pushing its price to around $14, a peak last reached in April 2022. Currently, LINK’s price fluctuates between $8.30 and $13.22, with its moving averages indicating bullish momentum.

The surge is attributed to Chainlink (LINK) involvement in real-world asset tokenization and early signs of institutional adoption. Strategic partnerships, particularly within the IoT sector, have reinforced Chainlink (LINK) position in the market.

With support levels at $0.33 and $5.25 and resistance levels at $15.09 and $20.01, Chainlink shows potential for further growth. Yet, these projections might undergo an impact from market fluctuations – thus demanding a cautious approach: this serves as your warning in the face of promising prospects.

Conclusion

Currently, the cryptocurrency market observes Avalanche (AVAX), Fantom (FTM), Chainlink (LINK), and newcomer ScapesMania; it remains a field of dynamic and promising developments. These altcoins exhibit resilience and potential despite Bitcoin’s recent dip. Particularly noteworthy is ScapesMania – its innovative approach coupled with a successful presale positions it as an emerging contender, thereby contributing to the evolution of the crypto landscape in unique ways.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.